Also: Berger details NAFCU's advocacy strategy to achieve CU wins; New PPP FAQs address BSA/AML issues
NAFCU TODAY | The News You Need Daily.
February 2, 2021
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NAFCU to NCUA: Capitalization of interest would benefit CU members [ [link removed] ]
NAFCU Director of Regulatory Affairs Ann Kossachev wrote to the NCUA Monday to offer support for the agency’s proposed rule on capitalization of interest. The proposal, issued during the board’s November meeting, would allow for the capitalization of interest in connection with loan workouts and modifications and would provide credit unions with the ability to better help their members meet payment obligations on all types of member loans.
NAFCU doubling down on advocacy efforts, says Berger [ [link removed] ]
"At NAFCU, relationship building is our strong suit. As we welcome President Joe Biden and Vice President Kamala Harris to their offices – bringing new policy agendas with them – we are doubling down on our advocacy efforts to continue to deliver wins for the credit union industry," wrote NAFCU President and CEO Dan Berger in a new editorial published in CU Today.
New PPP FAQs address BSA/AML compliance [ [link removed] ]
The Small Business Administration (SBA) and Treasury Department have released new paycheck protection program (PPP) FAQs to address questions related to Bank Secrecy Act (BSA)/anti-money laundering (AML) requirements.
Fed survey: Lending standards expected to ease in 2021 [ [link removed] ]
The Federal Reserve's fourth-quarter senior loan officer opinion survey (SLOOS) revealed that banks expect to ease lending standards this year, following a year-long trend of tightening due to the economic effects of the coronavirus pandemic.
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