5 things to know this week
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
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
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.
Build
and Strengthen Your Core Compliance Knowledge
Attend NAFCU's Virtual
Spring Regulatory Compliance School to understand credit union compliance from
A to Z.
CUs:
Share feedback on NCUA's CAMEL rating system via new Reg Alert
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.
