Trump nominates Hauptman to NCUA Board
President Donald Trump Monday nominated Kyle Hauptman to the NCUA Board. Hauptman currently serves as economic policy advisor to Sen. Tom Cotton, R-Ark. NAFCU President and CEO Dan Berger spoke to Hauptman following the announcement to congratulate him on the nomination.

SBA to PPP lenders: Focus on underserved areas
Small Business Administration (SBA) Administrator Jovita Carranza Monday sent a message to lenders participating in the paycheck protection program (PPP) encouraging them "to redouble [their] efforts to assist eligible borrowers in underserved and disadvantaged communities." More than 700 credit unions with assets of less than $1 billion are PPP lenders, and the most recent PPP loan data demonstrates their commitment to reaching the smallest businesses in need.

Compliance Monitor covers serving business accounts
As serving businesses can present a unique set of compliance challenges for credit unions, the June edition of NAFCU's Compliance Monitor – now available in a digital format – features a refresher on which federal laws and regulations apply to business accounts. The monthly e-newsletter is a free, member-only benefit designed to help credit union compliance officers stay up-to-date on the latest issues and manage their responsibilities.

NAFCU's State of the Industry - A Virtual Event
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NAFCU reiterates call for a national data security, privacy standard ahead of HFSC hearing
Ahead of a House Financial Services subcommittee hearing on cybersecurity and cybercriminal exploitation amid the pandemic, NAFCU's Brad Thaler told members how credit unions are seeking to combat a rise in fraudsters targeting members during this time and urged the subcommittee to continue to work on a national data security standard – specifically for institutions that collect and store consumer information. Thaler also recommended a national standard for data privacy to ensure consistency throughout the country.

FHFA releases updates reflecting COVID-19 impact on GSEs
The Federal Housing Finance Agency (FHFA) Monday issued its 2019 Report to Congress – outlining efforts to ensure safety and soundness within the housing market and the government-sponsored enterprises' (GSEs) financial condition, as well as its response to the coronavirus pandemic – and a notification that it plans to re-propose minimum financial eligibility requirements for Fannie Mae and Freddie Mac Seller/Servicers.