Also: 2 webinars to help CDFIs support members, communities; NAFCU supports giving CUs flexibility for purchasing MSRs



NAFCU TODAY | The News You Need Daily.

February 1, 2021



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This week: Committee works begin, SBA continues to rollout PPP guidance [ [link removed] ]
Several congressional committees this week are holding organizational meetings and starting work on key issues, and Congress is looking to move forward with another coronavirus relief package. NAFCU's advocacy team continues to be active with lawmakers, staff, and administration officials to secure additional tools that will allow credit unions to better support members and economic recovery amid the coronavirus pandemic.


NCUA, Inclusiv offering webinars to help CDFIs with emergency capital program, RRP [ [link removed] ]
This week, Community Development Financial Institution (CDFI)-designated credit unions can benefit from two industry webinars designed to help CDFIs gain valuable insight into the Treasury Department's Emergency Capital investment Program and the CDFI Fund's Rapid Response Program (RRP).


NAFCU to NCUA: Defer to FCUs, FICUs on mortgage servicing rights rule [ [link removed] ]
NAFCU Regulatory Affairs Counsel Aminah Moore wrote to the NCUA Friday to offer support for the agency's proposed rule to remove the current prohibition on federal credit unions' (FCUs) ability to purchase mortgage servicing rights (MSRs) from the investment and deposit activities rule and offer credit union insights. A rule on MSRs was included in the agency's fall rulemaking agenda.






Reg Alert details NCUA RBC proposal, potential impacts on CUs [ [link removed] ]
In a new Regulatory Alert sent Friday, NAFCU detailed the NCUA's recently issued advanced notice of proposed rulemaking (ANPR) related to risk-based capital (RBC) and its potential impact on credit unions. The NCUA Board approved the ANPR, in a 2-1 vote, during its January meeting and is currently seeking feedback on simplification of the rule, scheduled to take effect in 2022.


NCUA issues 2 prohibition notices in January [ [link removed] ]
The NCUA in January issued two prohibition notices, prohibiting individuals previously associated with credit unions from any future participation in the affairs of a federally-insured financial institution.



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