Also: Bill to provide PPP flexibility heads to president; NAFCU keeps up advocacy on e-sign as CFPB offers some relief



NAFCU TODAY | The News You Need Daily.

June 4, 2020



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NAFCU hits the virtual road with state-specific webinar series [ [link removed] ]
As NAFCU seeks ways to keep the industry informed of the latest information and challenges impacting operations amid the coronavirus pandemic, the association is launching a virtual roadshow featuring more than 20 events targeting individual states and regions.


Senate passes PPP changes; bill heads to Trump [ [link removed] ]
The Senate Wednesday passed by unanimous consent legislation to make changes to the Small Business Administration's (SBA) paycheck protection program (PPP). The House passed the bill with overwhelming bipartisan support last week; it now heads to the president's desk.


CFPB provides some NAFCU-sought relief under e-sign [ [link removed] ]
The CFPB Wednesday issued an update saying it will take a flexible approach to its supervisory and enforcement practices related to electronic credit card disclosures amid the coronavirus pandemic. NAFCU has worked closely with the CFPB to modernize e-sign requirements and reiterated additional ways to provide relief to credit unions and their members during a call yesterday with CFPB Director Kathy Kraninger.






FHFA issues final rule on FHLB housing goals [ [link removed] ]
In efforts to help underserved borrowers, the Federal Housing Finance Agency (FHFA) Wednesday published a final rule on the Federal Home Loan Banks' (FHLB) housing goals, with a NAFCU-sought clarification that credit unions may participate.


HFSC hearing tackles CDFIs, MDIs, access to PPP funds [ [link removed] ]
The House Financial Services Subcommittee on Consumer Protection and Financial Institutions held a virtual hearing yesterday to discuss inclusive lending during the coronavirus pandemic and the role community development financial institutions (CDFIs) and minority depository institutions (MDIs) play in supporting underserved communities and small businesses during this challenging time.


NCUA to host webinar on BSA, share best practices [ [link removed] ]
The NCUA will host a webinar June 17 to share best practices for credit unions' Bank Secrecy Act (BSA) programs and valuable tactics to avoid pitfalls from non-compliance. BSA and anti-money laundering compliance is among the NCUA's supervisory priorities for 2020.


FASB's semiannual webcast to offer important updates [ [link removed] ]
The Financial Accounting Standards Board (FASB) will hold a semiannual update on its standard-setting activities pertaining to private companies and not-for-profit organizations via webcast Monday, June 15, at 1 p.m. Eastern.



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