NAFCU
provides updates on Fed's Reg D relief
NAFCU sent members an updated
Final Regulation Alert to include clarification from the Federal Reserve that
it has no plans to re-impose the six-per-month transfer limit between savings
and checking accounts under Regulation D, which was eliminated by a recent interim
final rule. This clarification came following NAFCU President and CEO Dan Berger's
request that the Fed provide further information on its rule.
New
PPP loan data shows $195B disbursed from Round 2
New data from the
Small Business Administration (SBA) on its paycheck protection program (PPP) revealed
roughly $7 billion more was disbursed through the program over the last week.
Of the $310 billion available through the PPP's Round 2 funding, over $195 billion has now been given out.
Mnuchin,
Powell give update on CARES Act today
Treasury Secretary Steven Mnuchin
and Federal Reserve Chairman Jerome Powell today will testify before the Senate
Banking Committee to give an update on CARES Act, which was enacted at the end
of March. NAFCU's advocacy secured several positive provisions for credit
unions in the law and the association continues to seek additional relief for
the industry as Congress examines the implementation of the CARES Act and continues
work on the next phase of pandemic relief.
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ECU
Monitor: CUs share exam concerns; CUSI falls into pessimistic range
The May edition of NAFCU's Economic & CU Monitor report – now available
for download – found more than 80 percent of survey respondents' exam schedule
had not been modified or postponed as the NCUA transitioned exams to a virtual
process in light of the coronavirus pandemic.
Equifax
agrees to pay CUs over $30M in settlement for 2017 breach
Friday, Equifax
settled a lawsuit with financial institutions, most of which are credit unions,
following its 2017 data breach that affected more than 147 million U.S. consumers.
NAFCU has monitored fallout from the data breach and increased its advocacy for
a national data security standard in its wake; the association has been instrumental
in ensuring any new rules stemming from the data breach don't negatively impact credit unions.
New
webinars to help CUs support Hispanic small businesses
As credit unions
work to support their members and communities amid the coronavirus pandemic, Juntos
Avanzamos is offering complimentary webinars to all credit unions to better understand
and meet the needs of Hispanic entrepreneurs and small business owners.
