Also: Long offers insights into Q4 GDP, December new home sales; Compliance Blogs tackle recent rules, FinCEN penalty
NAFCU TODAY | The News You Need Daily.
January 29, 2021
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5 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, including new procedural notices from the Small Business Administration (SBA) on the paycheck protection program (PPP) related to second-draw loan applications for "unresolved borrowers," and new priorities for the CFPB.
NAFCU's Long provides insights into new GDP, home sale data [ [link removed] ]
According to the Commerce Department's initial estimate of 2020 fourth quarter economic growth, the U.S. economy grew 4 percent, but real GDP declined 3.5 percent over the year due largely to the coronavirus pandemic. NAFCU Chief Economist and Vice President of Research Curt Long noted that "this is the first annual decline since the Great Recession and the largest since 1946."
This week on the Compliance Blog: Supervisory guidance, HPML escrow rules; FinCEN penalty [ [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.
CUs: Share feedback on NCUA's CAMEL rating system via new Reg Alert [ [link removed] ]
NAFCU Thursday sent a new Regulatory Alert detailing the NCUA's recent proposed rule to make changes to its CAMEL rating system. The association's Regulatory Alerts are member-only resources detailing how proposed rulemakings could affect credit unions.
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