NCUA kicks off 2-day meeting today
The NCUA Board – now filled after Kyle Hauptman was sworn into his seat earlier this week – begins a two-day meeting today. There are several NAFCU-sought items to be discussed today and tomorrow, and the association will keep credit unions updated on the discussions and final actions.

Congress nears COVID relief deal
Following Tuesday's meeting with Republican and Democratic congressional leadership, lawmakers are close to sealing a deal on additional coronavirus relief. The proposal is expected to extend the Small Business Administration's (SBA) paycheck protection program (PPP), allow certain borrowers to apply for a second PPP loan, and include NAFCU-sought provisions to simplify the PPP loan forgiveness process for loans under $150,000.

Long on CUbroadcast: Stimulus package is important to economic recovery
Joining CUbroadcast, NAFCU Chief Economist and Vice President of Research Curt Long discussed the November jobs report, the state of the economy, and the importance of a new stimulus package.

Save up to $300 on NAFCU conferences and online training!
'Tis the season to save! Act now to get up to $300 off most 2021 NAFCU conferences and online training subscriptions! Sale ends 1/8/21.

NAFCU Network Spotlight: Q&A with Oregon State CU's Craig Cole
NAFCU's inside look at its seven complimentary, member-only networks continues today with a Q&A featuring Oregon State Credit Union Executive Vice President and Chief Information Officer Craig Cole. See how Cole thinks the Cybersecurity & IT Network can help strengthen protocols across the industry.

Fed holds rates; CUs should expect a long period of low rates
The Federal Open Market Committee (FOMC) voted via videoconference Wednesday to maintain the federal funds target rate at its current range of 0 to 0.25 percent as the economy continues to recover from the effects of the coronavirus pandemic. During his post-meeting press conference, Chairman Jerome Powell acknowledged that there could be a pop in inflation next year once vaccines are more widely distributed, but indicated that the Fed is inclined to view such a price as being transient.

Retail sales fall in November; NAFCU expects rocky months ahead
Total retail sales fell 1.1 percent in November, following a 0.1 percent drop in the previous month. Of note, the October number was revised down 0.4 percentage points.