Also: Hill work continues on relief, gov't funding ahead of midnight deadline; FHFA proposes GSE liquidity requirements



NAFCU TODAY | The News You Need Daily.

December 18, 2020



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NCUA extends COVID relief, approves subordinated debt rule [ [link removed] ]
The NCUA Board Thursday approved all items on its agenda – including a final rule on subordinated debt and a proposed rule related to overdraft policy that was tabled during the board's May meeting – and received a briefing on the National Credit Union Share Insurance Fund's (NCUSIF) normal operating level (NOL), during which staff recommended it be kept at its current level of 1.38 percent.


Congress continues work on relief, funding ahead of today's deadline [ [link removed] ]
As lawmakers work to finalize details of a Phase 4 coronavirus relief package with the intent of passing it as part of an omnibus fiscal year 2021 funding measure, Congress could pass another short-term funding bill today to give negotiators a few more days to hash out details. However, with current federal government funding set to expire at midnight tonight, a government shutdown is possible without unanimous consent for a short-term measure.


FHFA proposes GSE liquidity requirements [ [link removed] ]
The Federal Housing Finance Agency (FHFA) Thursday issued a proposed rulemaking to implement minimum liquidity and funding requirements for the government-sponsored enterprises (GSEs), daily management reporting of the GSEs' liquidity positions, monthly public disclosure reporting requirements, and more.






4 things to know this week [ [link removed] ]
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 a new report on small business sentiment, the U.S. Government Accountability Office (GAO)'s Financial Stability Oversight Counsel (FSOC) recommendations, and more.


This week on the Compliance Blog: 2 CFPB complaints, BSA changes included in the FY2021 NDAA [ [link removed] ]
As credit unions work to meet the needs of more than 123 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.



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