Also: FinCEN on Twitter scam, lending violations, more to know this week; NAFCU-sought asks included in FCC order



NAFCU TODAY | The News You Need Daily.

July 17, 2020



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NAFCU calls for CU advocacy to continue to fight NDAA nominal lease provision [ [link removed] ]
Earlier this week, NAFCU Vice President of Legislative Affairs Brad Thaler sent NAFCU members a new Action Alert with a comprehensive update on the fiscal year 2021 National Defense Authorization Act (NDAA), including the status of nominal leases on military bases and facilities. Thaler encouraged credit unions to join the association in its advocacy to push back against the provision and to voice the possible disadvantages credit unions may face if it were to be included in the final bill.


5 things to know this week [ [link removed] ]
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 news related to the bitcoin scam on Twitter, discriminatory mortgage lending practices, and more.


FCC includes NAFCU-sought asks in call blocking order [ [link removed] ]
The Federal Communication Commission (FCC) yesterday issued an order related to the establishment of a safe harbor from liability for voice service providers (VSPs) that block unwanted calls, as well as a further notice of proposed rulemaking (FNPR) to better inform call blocking efforts.






New Compliance Monitor tackles wire transfers, highlights recent SCOTUS decisions [ [link removed] ]
The July edition of NAFCU's Compliance Monitor is now available in its digital format and features an in-depth look at sending and receiving consumer wire transfers. 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 Thaler pushes for simplified PPP forgiveness process [ [link removed] ]
Ahead of today's House Small Business Committee oversight hearing of the Small Business Administration (SBA) and Treasury Department's programs created to help mitigate the effects of the coronavirus pandemic, NAFCU's Brad Thaler reiterated the association's call to simplify the forgiveness application processes for paycheck protection program (PPP) loans.


CFPB releases insights into COVID-19 complaints [ [link removed] ]
The CFPB Thursday released a report on more than 8,000 consumer complaints received from January to May that mention coronavirus or related terms. The top three issues were related to mortgages, credit cards, and consumer credit reporting.


This week in compliance: Post-forbearance options, FinCEN advisory, more [ [link removed] ]
As credit unions work to meet the needs of their members and communities amid the coronavirus pandemic and restore normal operations, NAFCU's award-winning Regulatory Compliance Team is keeping the industry informed of the latest developments and available resources via the Compliance Blog every Monday, Wednesday, and Friday.


Future of retail sales rebound 'clouded,' says NAFCU [ [link removed] ]
Following a record 18.2 percent rebound in May, retail sales continued to recover in June and rose 7.5 percent. NAFCU's Curt Long noted the increase was supported by spending in discretionary sectors, such as apparel stores which saw a 105 percent gain.



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