Also: Long recommends ways to reduce budget at NCUA briefing; Fed reports slowing economic activity
NAFCU TODAY | The News You Need Daily.
December 3, 2020
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Hauptman confirmed to NCUA Board [ [link removed] ]
The Senate Wednesday approved the nomination of Kyle Hauptman to serve on the NCUA Board; the nomination was cleared by a 56-39 vote. NAFCU President and CEO Dan Berger personally connected with Hauptman following the vote to congratulate him on his confirmation.
Long to NCUA: Budget increases not necessary to adapt, innovate [ [link removed] ]
During yesterday's NCUA Board 2021-2022 budget briefing, NAFCU Chief Economist and Vice President of Research Curt Long thanked the board for its budget transparency and stakeholder engagement, and encouraged the agency to "continue to find ways of adapting to the changing environment and transitioning to new supervision and examination methods that do not result in significant year-over-year budget increases."
Beige Book shows slowing economic activity [ [link removed] ]
The Federal Reserve's Beige Book released Wednesday revealed most districts saw modest or moderate economic expansion in economic activity; however, four districts reported little or no growth. Of note, five narratives highlighted that activity remains below pre-pandemic levels for at least some sectors.
FHFA further extends GSEs' foreclosure, eviction moratorium [ [link removed] ]
The Federal Housing Finance Agency (FHFA) has extended its moratorium on foreclosures and evictions to Jan. 31, 2021. The policy applies to government-sponsored enterprise (GSE)-backed single-family mortgages and GSE-owned properties.
NAFCU Network Spotlight: Q&A with Members 1st of NJ FCU's Marya Cabatingan [ [link removed] ]
NAFCU's inside look at its seven complimentary, member-only networks continues today with a Q&A featuring Members 1st of New Jersey Federal Credit Union Marketing and Business Development Specialist Marya Cabatingan. As credit unions face unprecedented challenges, Cabatingan touts the responsiveness and innovativeness of Marketing & Growth Network members to help solve problems. See what else she had to say about the network.
Mnuchin, Powell discuss CARES Act relief provisions during HFSC testimony [ [link removed] ]
Federal Reserve Chair Jerome Powell and Treasury Secretary Steven Mnuchin testified before the House Financial Services Committee Wednesday to discuss the oversight of the Treasury and the Fed’s pandemic response and implementation of CARES Act provisions. Under the CARES Act, the Treasury Department has coordinated implementation of the paycheck protection program (PPP) with the Small Business Administration and the Fed created and expanded several lending facilities, while also using its available tools to their fullest potential, with support from the Treasury.
MLI concludes with sessions on digital, marketing, group project presentations [ [link removed] ]
NAFCU's Virtual Management and Leadership Institute will continue today with sessions on digital transformation, the essentials of credit union marketing, and more. The conference will conclude tomorrow with group project presentations where attendees will tie in all they have learned throughout the week.
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