Also: Senate set to vote on short-term funding; House revises relief package; NAFCU, trades push for action on PPP



NAFCU TODAY | The News You Need Daily.

September 30, 2020



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NAFCU Board Chair Schwartz opposes NCUSIF premium in new editorial  [ [link removed] ]
As the NCUA Board considers the impact of the coronavirus pandemic on the National Credit Union Share Insurance Fund (NCUSIF), Mission Federal Credit Union President and CEO Debra Schwartz penned an editorial in Credit Union Journal calling for the NCUA to allow credit unions additional temporary investment authorities rather than assess premiums.


Senate makes progress to avoid shutdown; House preps vote on revised relief package [ [link removed] ]
The Senate Tuesday invoked cloture on the continuing resolution to extend federal funding to Dec. 11, setting the chamber up to pass the legislation today. The president is expected to sign the measure and prevent a federal government shutdown before funding expires at midnight tonight. In addition, the House could begin the process as early as today to advance a revised coronavirus relief package.


NAFCU, trades call for passage of standalone PPP legislation [ [link removed] ]
As Congress continues negations on a Phase 4 coronavirus relief package, NAFCU Tuesday joined with other financial services trade organizations to urge Congress to support small businesses and pass legislation that would continue the paycheck protection program (PPP) and simplify the forgiveness process for PPP loans. The association has continuously worked with the Small Business Administration (SBA), Treasury, and Congress to ensure credit unions' ability to lend effectively through the program and help their small business members.






NAFCU, trades urge FCC to protect legitimate callers from erroneously blocked calls [ [link removed] ]
NAFCU, along with a group of financial trade organizations, urged the Federal Communications Commission (FCC) to establish a real-time notification to alert callers when their legitimate calls have been blocked or adversely labeled under the TRACED Act, which is intended to target illegal robocalls.


HFSC task force tackles legal framework surrounding fintech payments [ [link removed] ]
During a House Financial Services Committee Financial Technology (Fintech) Task Force hearing Tuesday, several witnesses expressed concerns over the actions taken by the Office of the Comptroller of the Currency (OCC) in regard to fintech charters and the Federal Deposit Insurance Corporation (FDIC) in regard to industrial loan company (ILC) charters. NAFCU has shared similar concerns, and ahead of the hearing reiterated the association's call for competitive equality between traditional financial institutions and fintech companies in a letter to the task force.



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