Also: NAFCU's extreme member service highlight by national media; FHFA extends foreclosure moratorium



NAFCU TODAY | The News You Need Daily.

August 28, 2020



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4 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 Federal Open Market Committee's (FOMC) updates to its monetary strategy, cybersecurity threats, the paycheck protection program (PPP) and economic impact payments (EIPs).


National media highlights NAFCU's efforts to strengthen CUs amid pandemic [ [link removed] ]
In an exclusive interview with Cardrates.com, NAFCU Vice President of Media Relations and Communications Jacqueline Ramsay discussed the association's relentless commitment to strengthening the credit union industry amid the coronavirus pandemic by providing extreme member service.  


FHFA follows suit, extends GSEs' foreclosure moratorium [ [link removed] ]
The Federal Housing Finance Agency (FHFA) has joined the Department of Housing and Urban Development (HUD) in extending its moratorium on foreclosures and evictions through the end of the year. The policy for government-sponsored enterprise (GSE)-backed single-family mortgages and GSE-owned properties was set to expire Monday.






Fed Chair Powell discusses monetary policy framework, future during Jackson Hole speech [ [link removed] ]
Federal Reserve Chair Jerome Powell, in a webcast speech Thursday at the Federal Open Market Committee's (FOMC) annual retreat in Jackson Hole, Wyo., discussed the results of the Fed's first-ever public review of its monetary policy framework and its newly released statement on longer-run goals and monetary policy strategy.


CFPB publishes new insights into 2019 HMDA data [ [link removed] ]
The CFPB Thursday published a new analysis of 2019 Home Mortgage Disclosure Act (HMDA) data. The data was initially released in June, which revealed insights into mortgage lending transactions from more than 5,500 U.S. financial institutions.


This week on the Compliance Blog: Charged off loans, fair lending with targeted marketing, 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.


Revised Q2 GDP estimate confirms COVID-19's economic downturn [ [link removed] ]
The Commerce Department Thursday released its second estimate of economic activity for the second quarter, which showed a 31.7 percent collapse due to the coronavirus pandemic. A new NAFCU Macro Data Flash report highlighted that "the March to May dip was the most severe in history with GDP falling more than three times as much as the previous recorded quarterly decline."



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