NAFCU,
100+ trades urge Congress to pass bill to ease PPP forgiveness
NAFCU
Thursday joined with more than 140 other trade groups – representing various
industries and businesses – to urge Congress to pass bipartisan legislation
that would ease the forgiveness process for paycheck protection program (PPP)
loans under $150,000. NAFCU has called on lawmakers and the Small Business Administration
(SBA) to support automatic forgiveness for these loans.
5 things to know this week
NAFCU's widely-read NAFCU Today is credit union leaders' go-to source
for the latest on issues impacting the credit union industry. For those short
on time, here's a roundup of this week's top need-to-know updates and resources.
SCOTUS
to hear cases on autodialer, FHFA structure
The U.S. Supreme Court
Thursday agreed to hear a lawsuit challenging the Telephone Consumer Protection
Act's (TCPA) definition of an automatic telephone dialing system (ATDS, or
autodialer), as well as one related to the single-director structure of the Federal Housing Finance Agency (FHFA).
NAFCU's
Virtual BSA School
Earn your NCBSO and achieve a solid understanding
of core BSA regulations—all from your home or office.
Q1 CU trends show stable growth
NAFCU's first-quarter CU Industry Trends report revealed year-over-year growth
rates were stable, with loan growth increasing slightly due to higher mortgage
refinancing activity. In addition, borrowings rose as credit unions boosted cash and short-term investments.
NAFCU
urges FCC to protect legitimate callers, discusses efforts with staff
In response to the Federal Communication Commission's (FCC) further notice
of proposed rulemaking (FNPR) seeking comment on traceback efforts, NAFCU's
Elizabeth LaBerge reiterated the association's call to protect legitimate
callers and ensure consumers "receive important information they want and need."
Consumer
credit slides again in May; NAFCU expects continued decline
Total consumer
credit fell 5.3 percent in May (seasonally-adjusted, annualized); however, it
is up 0.9 percent versus a year ago. NAFCU Chief Economist and Vice President
of Research Curt Long predicted a continued declined as the number of coronavirus
cases rise in a NAFCU Macro Data Flash report.
