Also: Thaler urges support for extending TDR relief; Fed partners with MIT on cryptocurrency research
NAFCU TODAY | The News You Need Daily.
August 17, 2020
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This week: NAFCU advocacy keeps building momentum [ [link removed] ]
While most members of the House and Senate continue to work from their home districts and states this week, and the ticket of former Vice President Joe Biden and Sen. Kamala Harris, D-Calif., prepare to accept the Democratic nomination at the party's virtual convention, NAFCU's award-winning advocacy is hard at work for credit unions to keep industry priorities top-of-mind as lawmakers and administration officials pursue a compromise for a Phase 4 coronavirus relief package.
NAFCU advocacy efforts continue as Thaler shares support of extended TDR relief [ [link removed] ]
NAFCU's award-winning advocacy team is working to share credit union concerns and priorities on key issues, including troubled debt restructurings (TDRs), as lawmakers continue discussions on a Phase 4 coronavirus relief package.
Fed researching cryptocurrency [ [link removed] ]
Last week, Federal Reserve Governor Lael Brainard announced a partnership between the Federal Reserve Bank of Boston and researchers at the Massachusetts Institute of Technology in a multiyear effort to build and test "a hypothetical digital currency oriented to central bank uses."
Reduction in unemployment benefits expected to impact consumption, says NAFCU [ [link removed] ]
Retail sales continued to recover in July and rose 1.2 percent, following an 8.4 percent rise in June. NAFCU's Curt Long noted retail sales growth continues to grow at a solid rate, with gains in July concentrated in distressed sectors such as electronic and appliance stores, which showed a 22.9 percent rise in sales.
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