This
week: NAFCU advocacy keeps building momentum
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
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
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."
See what's happening in the NAFCU Cybersecurity
& IT Network
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Reduction
in unemployment benefits expected to impact consumption, says NAFCU
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.
