SBA
prepares to relaunch PPP; FI regulators to host webinar Jan. 11
Following
enactment of Phase 4 coronavirus relief provisions last week, the Small Business
Administration (SBA) has released two new interim final rules (IFRs) to address
changes to the paycheck protection program (PPP) made by the Economic Aid Act,
as well as guidance for providing minority-, underserved-, veteran- and women-owned
businesses with access to capital through the program.
Risk-based
capital, net worth, more on NCUA Board agenda next week
The NCUA Board
has a full agenda for its meeting next week, including a final rule related to
corporate credit unions and proposed rules to address the risk-based net worth
complex threshold and credit union service organizations (CUSOs).
NAFCU
urges FHFA to consider low-, moderate-income borrowers in GSE approval rulemaking
In response to the Federal Housing Finance Agency's (FHFA) proposed rule
that would require the government-sponsored enterprises (GSEs) – Fannie Mae
and Freddie Mac – to obtain prior approval on new products and activities, NAFCU
urged the agency to consider the potential impacts on access to credit for low-
and moderate-income borrowers during its review.
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This
week on the Compliance Blog: EIPs, NCUA exams, CFPB consent order
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.
NAFCU
breaks down NCUA's rules on OTR methodology, fees paid by CUs
NAFCU sent Final Regulation summaries of the NCUA's overhead transfer rate
(OTR) and operating fee methodologies and annual operating fees to member credit
unions Thursday, outlining their impacts on credit unions.
Vehicle
sales jump slightly in December; NAFCU expects levels to remain flat into the summer
Total vehicle sales grew in December, jumping from 15.6 million annualized units
to 16.3 million during the month and representing a 3.2 percent increase in sales
levels versus last year. NAFCU Chief Economist and Vice President of Research
Curt Long noted that strong light truck and SUV sales have "carried the vehicle
market as auto sales are still down 16.8 percent compared to this time last year."
