Also: New NAFCU PPP FAQs as Trump signs changes into law; NDAA advocacy launches ahead of markup



NAFCU TODAY | The News You Need Daily.

June 8, 2020



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This week: NAFCU, CUs bridge social distancing gap as virtual roadshow kicks off [ [link removed] ]
NAFCU's Roadshow Webinars series kicks off today with the first one tailored for New York-based credit unions. The roadshow will feature over 20 complimentary webinars targeting specific, state-level issues for all 50 states and U.S. territories.


Trump signs PPP flexibility into law; NAFCU updates FAQs [ [link removed] ]
President Donald Trump Friday signed into law H.R. 7010, the Paycheck Protection Program Flexibility Act of 2020. The bill passed the House overwhelmingly with bipartisan support and the Senate by unanimous consent. NAFCU is supportive of changes to ensure small business owners can use the Small Business Administration's (SBA) paycheck protection program (PPP) loan funds effectively to support employees and businesses.


NAFCU advocacy underway as Congress starts work on NDAA [ [link removed] ]
Ahead of the Senate Armed Services Committee's markup this week of the fiscal year 2021 National Defense Authorization Act (NDAA), NAFCU Vice President of Legislative Affairs Brad Thaler reiterated the association's longstanding call to protect credit union nominal leases on military installations and prevent efforts to allow all banks to operate rent-free on military bases.






FI regulators commit to financial inclusion [ [link removed] ]
Federal financial regulators, including the NCUA, Friday released a statement on the importance of financial inclusion. NAFCU strongly supports diversity, equity, and inclusion (DEI) efforts as it advocates to ensure all Americans have access to safe, affordable financial services needed to achieve financial health and stability.


NCUA to partner with Export-Import Bank [ [link removed] ]
The NCUA tomorrow is set to sign a Memorandum of Understanding (MOU) with the Export-Import Bank in an effort to promote EXIM programs and lending opportunities to credit unions.


CFPB resources help older Americans navigate the pandemic [ [link removed] ]
As the coronavirus pandemic continues to impact the nation, vulnerable populations such as older Americans remain extremely susceptible to financial abuse. NAFCU staff spoke with the CFPB's Office of Older Americans last week and is now seeking feedback from credit unions on financial abuse trends or areas where additional resources could benefit members.


NAFCU outlines proposed joint ownership share accounts rule, seeks feedback [ [link removed] ]
The NCUA Board last month proposed a rule on joint ownership share accounts, providing parity with changes made for banks by the FDIC in 2019. In a new Regulatory Alert, NAFCU highlights key aspects of the rule that could impact credit unions and seeks feedback from members.


Unemployment rebounds in May; NAFCU expects strong payroll growth in 'immediate' future [ [link removed] ]
The unemployment rate made a surprising rebound in May, dropping to 13.3 percent – down 1.3 percent from the previous month's record breaking increase – and marking the return of a significant amount of jobs. NAFCU Chief Economist and Vice President of Research Curt Long noted the robust gains were "concentrated among lower-wage workers."



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