NCUA
issues NAFCU-sought proposal allowing capitalization of interest
The
NCUA Board Thursday unanimously approved the publication of a proposed rule to
allow the capitalization of interest in connection with loan workouts and modifications.
NAFCU has consistently called on the NCUA to make this change and provide credit
unions with much needed relief – during the pandemic and beyond – to help
their members meet payment obligations on all types of member loans. It was the first association to do so in March.
NAFCU,
100+ trades to Congress: Simplified PPP forgiveness would support economy
NAFCU joined with more than 100 trade groups – representing financial services,
small businesses, and other key industries – in a letter Thursday urging congressional
leaders to "immediately address the overburdensome Paycheck Protection Program
(PPP) forgiveness process before the end of the year."
5 things to know this week
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 National Defense Authorization Act (NDAA), nomination developments, government funding, and more.
NAFCU's
Virtual Management and Leadership Institute: Only a few seats left
This popular event has sold out the last 3 years!
NAFCU,
trades meet with FCC on call blocking, TCPA exemptions
NAFCU and several
financial trade organizations met with the Federal Communications Commission (FCC)
Consumer and Government Affairs Bureau Thursday to discuss erroneous call blocking
under the TRACED Act, which is intended to target illegal robocalls, in addition
to the FCC's notice of proposed rulemaking (NPRM) seeking comment on various
exemptions that have been issued under the Telephone Consumer Protection Act (TCPA).
This
week on the Compliance Blog: Supervisory guidance, BSA/AML initiatives, CCPA
As credit unions work to meet the needs of more than 122 million Americans during
the coronavirus pandemic, NAFCU's award-winning Regulatory Compliance Team
continues to keep credit unions informed with new posts on the Compliance Blog every Monday, Wednesday, and Friday.
Existing-home
sales rise for 5th consecutive month
Existing-home sales rose 4.3 percent
in October to a seasonally-adjusted rate of 6.85 million units, representing a
26.6 percent increase in sales versus a year ago. In a new Macro Data Flash report,
NAFCU's Curt Long notes that this is the fifth straight month that existing-home
sales have risen since bottoming out in May, and the highest level reached since February 2006.
