This week: CUs encouraged to join NAFCU advocacy, webinars
The House and Senate are working from their home districts and states this week, but work continues on the fiscal year 2021 National Defense Authorization Act (NDAA) and the House Financial Services Committee is set to hold virtual hearings on economic issues related to the coronavirus pandemic.

NAFCU to NCUA: Joint share account proposal provides targeted relief
In response to the NCUA's proposed rulemaking on joint ownership share accounts, NAFCU Senior Regulatory Affairs Counsel Kaley Schafer thanked the agency for "providing this targeted, regulatory relief." The rule was proposed at the NCUA Board's May meeting and provides parity with changes made for banks by the FDIC in 2019.

CFPB announces tech sprints on e-disclosures, HMDA
The CFPB last week announced its first-ever tech sprints in efforts to reduce financial institutions' regulatory burden and improve consumer understanding of financial services. The agency proposed techs sprints through a request for information last year as a means to identify new technologies and approaches that can be used to provide more cost-effective oversight of supervised entities.

NAFCU's Virtual BSA School
Earn your NCBSO and achieve a solid understanding of core BSA regulations—all from your home or office.

Unemployment rates see 'encouraging' rebound in June
The U.S. economy added 4.8 million jobs in June, with the unemployment rate declining 2.2 percentage points to 11.1 percent. NAFCU Chief Economist and Vice President of Research Curt Long credited the strong rebound to leisure and hospitality jobs as restaurants and bars began reopening in many states.