Also: New survey gives insights into consumers' financial health; Top-notch compliance resources readily available for CUs
NAFCU TODAY | The News You Need Daily.
July 14, 2020
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Stay connected to Washington with NAFCU's Virtual Caucus [ [link removed] ]
Looking to stay politically active amid the coronavirus pandemic? NAFCU is revamping its annual Congressional Caucus to a virtual event to ensure credit unions across the country can connect with lawmakers and regulators on key credit union issues at the federal level.
New survey: 40% have had difficulty paying bills [ [link removed] ]
The CFPB released results from its Making Ends Meet Survey – conducted in May 2019 – which revealed that more than 40 percent of U.S. consumers had a difficult time paying a bill or expense in the last year. The bureau is currently conducting a follow-up survey to determine how the coronavirus pandemic has impacted respondents' financial stability.
NAFCU's compliance resources assist CUs virtually [ [link removed] ]
During these uncertain times, NAFCU is working hard to ensure credit unions maintain access to the association's top-rated educational resources and can connect with industry peers while prioritizing the health and safety of their staff and members. Here is a closer look at some of the virtual events and resources available from the association’s award-winning Regulatory Compliance Team.
CFPB releases study on credit builder loans [ [link removed] ]
The CFPB Monday released findings from a study in which it partnered with a credit union to better understand the impact credit builder loans (CBLs) have on consumers, particularly those who are "credit invisible." The study found that CBLs helped increase credit scores among consumers with no existing debt and increased average savings balances among participants.
CUs: Share thoughts on mortgage lending trends [ [link removed] ]
As NAFCU continues to advocate for the industry amid the coronavirus pandemic, the association's monthly Economic & CU Monitor survey offers an opportunity for credit unions to provide direct feedback and further inform these efforts. This month's survey is focused on mortgage lending, including topics such as loan forbearance and delinquency rates.
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