Also: The latest on forbearances, HEROES Act proposal; Hood shares NCUA's, CUs' efforts amid pandemic



NAFCU TODAY | The News You Need Daily.

May 13, 2020



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Pelosi unveils HEROES Act for more coronavirus relief [ [link removed] ]
House Speaker Nancy Pelosi, D-Calif., Tuesday unveiled House Democrats' $3 trillion proposal for the next phase of coronavirus relief – the Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act – which focuses on providing assistance to workers, renters and homeowners, state and local governments, and more. The House is expected to vote on the package as early as Friday.


What CUs need to know as forbearance requests increase [ [link removed] ]
House Democrats Tuesday unveiled their Phase 4 coronavirus relief package – the Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act – which includes several amendments to provisions of the CARES Act related to mortgage forbearances. As more homeowners seek mortgage relief amid the pandemic, NAFCU continues its work with Congress, the Treasury Department, Federal Housing Finance Agency (FHFA), and NCUA to ensure credit union mortgage servicers receive more guidance and relief.


Hood, FI regulators discuss serving communities in need amid the coronavirus pandemic at hearing [ [link removed] ]
NCUA Chairman Rodney Hood and representatives from other financial regulators testified before the Senate Banking Committee Tuesday sharing insights into the safety and soundness of the U.S. financial system and their efforts to provide financial institutions with relief and resources amid the coronavirus pandemic.






Survey: Small businesses' economic outlook continues slide [ [link removed] ]
Small business optimism regarding economic conditions continues to fall amid the coronavirus pandemic, according to the latest NFIB survey. Additionally, sales expectations reached the lowest reading in the monthly survey's 46-year history, reaching a net negative 42 percent.


Consumer prices tumble in largest one-month drop since 2008 [ [link removed] ]
On a seasonally-adjusted basis, overall consumer prices fell 0.8 percent in April, the second decline in a row and largest one-month drop since December 2008. The Bureau of Labor Statistics reported that the overall consumer price (CPI) grew by 0.4 percent over the 12-month period.



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