Also: NAFCU pushes for extended relief as lawmakers review COVID-19 response; Berger talks leadership on new podcast



NAFCU TODAY | The News You Need Daily.

December 1, 2020



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NAFCU Board today meets with Fed's Bowman, CFPB's Kraninger [ [link removed] ]
The NAFCU Board of Directors today is set to meet with Federal Reserve Board Governor Michelle Bowman, who has experience working with community financial institutions and met with NAFCU last year, and CFPB Director Kathy Kraninger to advocate directly on issues affecting the credit union industry.


NAFCU urges relief extensions, modifications ahead of Senate Banking Committee hearing [ [link removed] ]
Ahead of today's Senate Banking Committee hearing to examine the administration's pandemic response programs, NAFCU Vice President of Legislative Affairs Brad Thaler urged Congress to consider the extension of several CARES Act relief measures as credit unions work to serve their members during the pandemic. Treasury Secretary Steven Mnuchin and Federal Reserve Board Chairman Jerome Powell are set to testify before the committee.


Berger emphasizes communication, taking care of people on leadership podcast [ [link removed] ]
Is servant leadership the best form of leadership for today's nonprofits? NAFCU President and CEO Dan Berger recently joined the Nonprofit Leadership Podcast to discuss his approach to leadership, challenges posed by the pandemic, and more – including why servant leadership is the right way to go regardless of sector or nonprofit status.






Join NAFCU leaders for 2021 expectations [ [link removed] ]
As 2020 comes to an end, NAFCU President and CEO Dan Berger and other leaders will provide member credit unions with a look ahead to the new year – including what the industry can expect from a Biden administration and how the association is positioned to help the industry thrive – during a Dec. 15 webinar.


NAFCU shares support of SBA increases to size standards [ [link removed] ]
In response to the Small Business Administration's (SBA) notice of proposed rulemaking to increase the size standards for North American Industry Classification System (NAICS) sectors related to finance and insurance, NAFCU shared its support of the agency's "thoughtful approach to reviewing and updating the size standards, as necessary."


FOMC minutes suggest increase in asset purchases to come [ [link removed] ]
According to NAFCU's Curt Long, minutes from the Federal Open Market Committee's (FOMC) November videoconference meeting suggest the committee is "positioning itself for an increase in asset purchases in December" to help sustain smooth market functioning. Members of the committee judged that immediate adjustments to the pace and composition of asset purchases were not necessary; however, circumstances could shift to warrant such adjustments.


NAFCU's Management and Leadership Institute kicks off with leadership, communications essentials [ [link removed] ]
Today, NAFCU's Virtual Management and Leadership Institute kicks off with a workshop on the essential steps for becoming an extraordinary leader and an interactive session on how to establish trust and creditability in communications and be a more effective communicator.  


Q3 GDP remains unchanged, continues 'record-breaking' recovery [ [link removed] ]
According to the Commerce Department's second estimate for third quarter economic growth, the U.S. economy rebounded 33.1 percent, remaining unchanged from the initial estimate. NAFCU Chief Economist and Vice President of Research Curt Long highlighted that while the dip from earlier this year was the most severe in history, the "recovery thereafter was also similarly record-breaking."


Despite decline in October, new-home sales remain strong [ [link removed] ]
New-home sales declined slightly in October – from September's upwardly revised rate of 1,002,000 annualized units to 999,000 units during the month – but were up 41.5 percent from a year ago. Despite the slight 0.3 percent decline, NAFCU's Curt Long noted "the last several months have been strong overall."


NCUA issues 2 prohibition notices in November [ [link removed] ]
The NCUA in November issued two prohibition notices, prohibiting individuals previously associated with credit unions from any future participation in the affairs of a federally-insured financial institution.



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