Also: State of Industry offers CUs novel experience in unprecedented times; NAFCU explores ways to connect CUs, EXIM



NAFCU TODAY | The News You Need Daily.

June 11, 2020



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NAFCU calls on SBA to provide automatic forgiveness as senators review PPP [ [link removed] ]
As the Senate Banking Committee Wednesday sought insights into the paycheck protection program (PPP) from Small Business Administration (SBA) Administrator Jovita Carranza and Treasury Secretary Steven Mnuchin, NAFCU raised its support for automatic forgiveness of PPP loans under $150,000 directly to Carranza.


NAFCU's State of the Industry: A novel CU event in unprecedented times [ [link removed] ]
As the world continues to adapt to the uncertain circumstances surrounding the coronavirus pandemic, NAFCU's State of the Industry – a complimentary event – will provide valuable insights and information straight to credit unions in a virtual environment. The association is committed to providing the industry with top-notch educational resources and strategies needed to grow.


NAFCU exploring ways to connect CUs, Export-Import Bank [ [link removed] ]
NAFCU President and CEO Dan Berger spoke Friday with Export-Import Bank President and Chairman Kimberly Reed about how credit unions can participate in EXIM programs and lending opportunities to provide credit to member businesses involved in exports.






NAFCU urges Congress to expand CU access to underserved areas [ [link removed] ]
Ahead of today's House Financial Services Task Force on Financial Technology hearing to consider the creation of a new FedAccounts system to reach unbanked consumers, NAFCU Vice President of Legislative Affairs Brad Thaler encouraged Congress to instead allow all credit unions to add underserved areas to their fields of membership.


Fed holds rates, predicts slow economic recovery [ [link removed] ]
The Federal Open Market Committee (FOMC) voted via videoconference Wednesday to keep the federal funds target rate near its current range of 0 to 0.25 percent as the economy recovers from the effects of the coronavirus pandemic. During his post-meeting press conference, Chairman Jerome Powell stated that the Fed's updated economic projections were made with the expectation that economic recovery would begin in the second half of this year and last through the next couple of years.


CFPB develops new resource to prevent elder fraud [ [link removed] ]
The CFPB Wednesday released a new online resource to help communities prevent and respond to cases of elder financial abuse. The Elder Fraud Prevention and Response Networks Development Guide seeks to establish and bolster collaborative networks to fight against fraud and empower older people with the tools and information needed to protect themselves from financial exploitation.


CPI continues to fall for 3rd consecutive month [ [link removed] ]
On a seasonally-adjusted basis, overall consumer prices fell 0.1 percent in May, the third monthly decline in a row. The Bureau of Labor Statistics reported that the overall consumer price index (CPI) grew 0.2 percent over the 12-month period.



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