Also: NAFCU supports NCUA's efforts to give corporate CUs flexibility; Fed task force addresses coin circulation issues



NAFCU TODAY | The News You Need Daily.

July 28, 2020



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Senate Republicans release small biz lending proposals, more for Phase 4 [ [link removed] ]
Senate Republicans Monday began rolling out components of their proposed Phase 4 relief package – the HEALS Act (Health; Economic Assistance; Liability Protection; and Schools Act) – which includes additional assistance for small businesses through the Small Business Administration's (SBA) paycheck protection program (PPP) and 7(a) program, worker and business protections and funding for schools to reopen, as well as another round of economic impact payments to consumers among other steps.


NAFCU shares support of providing corporate CUs with greater flexibility [ [link removed] ]
In response to the NCUA's proposal to amend the agency's corporate credit union rules, NAFCU's Andrew Morris shared the association's general support of the effort to provide greater flexibility and ease regulatory burden, and detailed credit union members' feedback on the proposed amendments.


Fed task force outlines ways to address coin circulation issues [ [link removed] ]
The U.S. Coin Task Force Friday released a statement outlining issues with coin circulation and ways consumers can help address the problem. Amid the coronavirus pandemic, consumers are using physical currency less frequently, which has resulted in fewer coins moving through the supply chain.






Senate committee schedules vote on NCUA nominee [ [link removed] ]
The Senate Banking Committee is set to vote on the nomination of Kyle Hauptman to the NCUA Board during an executive session Thursday. Hauptman testified before the committee last week and outlined his priorities for the board if he were to be confirmed.


Compliance basics kick off Virtual Reg School [ [link removed] ]
NAFCU's Virtual Regulatory Compliance School – reimagined in an all new digital format to ensure credit union compliance professionals have the comprehensive understanding of the regulations that impact day-to-day operations – kicks off today with sessions focused on the NCUA, field of membership (FOM) and share insurance.


NAFCU monitoring FOMC meeting, additional guidance expected [ [link removed] ]
The Federal Open Market Committee (FOMC) – the Fed's monetary-policy setting arm – begins its two-day July meeting today. The federal funds target rate range, which is currently set at 0 percent to 0.25 percent, is expected to be maintained until the committee is confident that the economy has weathered the economic impact of the coronavirus pandemic. NAFCU will monitor the meeting for any changes to the Fed's policy approach and economic expectations.



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