FinCEN
advises FIs on unemployment insurance fraud
The Financial Crimes Enforcement
Network (FinCEN) Tuesday issued a new advisory alerting financial institutions
to the rise of unemployment insurance fraud amid the coronavirus pandemic. According
to the Department of Labor's most recent data, 840,000 claims were submitted
for the week ending Oct. 3 and insured unemployment's four-week rolling average was over 12 million.
SBA
clarifies date on PPP forgiveness applications; Lawmakers urge more relief
The Small Business Administration (SBA) has a new FAQ for its paycheck protection
program (PPP) addressing the date by which borrowers need to apply for forgiveness.
In addition, following last week's release of a simplified forgiveness application
for loans under $50,000, more than 50 Republican representatives called on SBA
Administrator Jovita Carranza and Treasury Secretary Steven Mnuchin to further
reduce burdens under the forgiveness process.
NAFCU,
trades urge proper regulation, oversight of payments charters
In a
letter to Congress, NAFCU joined with several other financial services industry
organizations to outline concerns with the Office of the Comptroller of the Currency's
(OCC) newly proposed special purpose payments charter for non-bank and to oppose
the OCC's "effort to grant commercial companies like Amazon and Facebook
a national payments charter to access the Federal Reserve payments system and safety net."
NAFCU's
Virtual CFO Summit
Attend NAFCU's Virtual CFO Summit to gain the
strategies and best practices you need to steer your CU through the recession.
NAFCU
Reg Committee looks forward to 2021 reg priorities, tackles potential election outcomes
NAFCU's Regulatory Committee met yesterday and discussed current initiatives
and rulemaking efforts underway, the potential impacts of various election outcomes
on the credit union industry, and regulatory priorities on the horizon.
Economic
trends, CEO panel, more kick off Virtual Lending Conference
NAFCU's
Virtual Lending Conference – a must-attend event designed to help credit unions
maximize their lending programs to effectively compete in today's everchanging
marketplace – kicks off today via a reimagined digital format. The conference
continues tomorrow and will be available on-demand following the event.
Q3
consumer prices see solid recovery, says NAFCU
The Bureau of Labor
Statistics reported that overall consumer prices rose 0.2 percent on a seasonally-adjusted
basis in September and that the overall consumer price index (CPI) grew 1.4 percent over the 12-month period.
