Also: Berger unmasks bank lobbyists' anti-military proposal; Agencies issue examiner guidance amid pandemic



NAFCU TODAY | The News You Need Daily.

June 24, 2020



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SBA, Treasury update forgiveness, loan review IFRs [ [link removed] ]
The Small Business Administration (SBA) and the Treasury Department released revisions to two interim final rules (IFR) related to the paycheck protection program (PPP): One on loan forgiveness and the other on SBA loan review procedures. These revisions implement changes made by the recently enacted Paycheck Protection Program Flexibility Act (H.R. 7010) and include both the recently revised, borrower-friendly PPP loan forgiveness application and the new EZ version.


Berger unmasks bank lobbyists' anti-military proposal in American Banker op-ed [ [link removed] ]
In a critical op-ed published in American Banker, NAFCU President and CEO Dan Berger pushed back against bank lobbyists' continued calls to limit credit unions' ability to provide financial services to consumers in need, including to military members.


FI regulators issue examiner guidance amid COVID-19 [ [link removed] ]
The federal financial institution regulators, including the NCUA, and state regulators Tuesday issued interagency guidance directing examiners to consider how the coronavirus pandemic has impacted institutions as they assess safety and soundness.






EXIM's work with CUs noted during hearing [ [link removed] ]
Export-Import Bank President Kimberly Reed Tuesday touted recent efforts with the credit union industry, including her recent conversation with NAFCU President and CEO Dan Berger, as the bank works to support the U.S. economy and connect small businesses to its programs.


Berger, in new op-ed, offers strategies for CU success post-coronavirus  [ [link removed] ]
NAFCU President and CEO Dan Berger penned an op-ed in Credit Union Times encouraging credit unions to adapt to changes in consumer behavior in light of the coronavirus pandemic. The op-ed published in anticipation of tomorrow's virtual State of the Industry event.


CFPB: COVID-19 loss mitigation options don't violate Reg X [ [link removed] ]
The CFPB Tuesday issued an interim final rule (IFR) amending Regulation X to clarify that mortgage servicers do not violate the regulation's provisions by offering certain coronavirus-related loss mitigation options based on an evaluation of limited application information collected from the borrower. The interim final rule is effective July 1.


NAFCU asks Congress to push FCC on TCPA concerns amid COVID-19 [ [link removed] ]
Ahead of today's oversight hearing of the Federal Communications Commission (FCC), NAFCU Vice President of Legislative Affairs Brad Thaler shared with the Senate Commerce Committee areas under the Telephone Consumer Protection Act (TCPA) that still need to be addressed to ensure credit unions can contact members with important financial information, especially amid the coronavirus pandemic.


NCUA extends MDI mentoring grant application [ [link removed] ]
Credit unions that are eligible to apply for the NCUA's minority depository institutions (MDIs) mentoring grants may now submit applications until July 31. The NCUA announced in April that they will offer $125,000 in mentoring grants to small, low-income credit unions designated as MDIs to help them establish programs with larger, low-income-designated credit unions that can provide expertise and guidance.


New-home sales see 'strong recovery' in May [ [link removed] ]
New-home sales rose to 676,000 units in May, up 16.6 percent from April's downwardly revised rate of 580,000 units and 12.7 percent from a year ago. NAFCU Chief Economist and Vice President of Research Curt Long commented on the "strong recovery" in a new NAFCU Macro Data Flash report.


NAFCU announces new 2020-2021 board [ [link removed] ]
NAFCU yesterday announced its 2020-2021 Board of Directors following its Annual Business Meeting at the association's headquarters in Arlington, Va.



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