Also: Thaler outlines additional tools, small biz support to help CUs better serve members ahead of hearings



NAFCU TODAY | The News You Need Daily.

February 4, 2021



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NAFCU, member CUs meet with NCUA on ACCESS initiative [ [link removed] ]
Several representatives from NAFCU-member credit unions Wednesday met with the NCUA for a roundtable discussion on its Advancing Communities through Credit, Education, Stability and Support (ACCESS) initiative. Announced last year by Board Member Rodney Hood, who gave opening remarks during the meeting, the initiative brings together leaders from across the NCUA to modernize regulations, policies, and programs in support of greater financial inclusion.


NAFCU flags opportunities as House committee explores COVID-19 response [ [link removed] ]
Ahead of today's House Financial Services Committee hearing to discuss the response to the coronavirus pandemic and ensure consumers have the resources and relief needed to recover from inflicted financial difficulties, NAFCU's Brad Thaler highlighted tools and flexibility that will allow credit unions to better support members and communities.


Today: House committee tackles state of small biz economy [ [link removed] ]
Today, the House Small Business Committee will hold a hearing to assess the state of the small business economy nearly a year into the global coronavirus pandemic. NAFCU’s Brad Thaler wrote to the committee ahead of the hearing to share how the credit union industry has stepped up to ensure small businesses and their communities are supported amid the pandemic. He also reiterated how providing credit unions with relief from the arbitrary member business lending (MBL) cap would allow the industry to provide more assistance.






FinCEN alerts FIs to health care fraud [ [link removed] ]
The Financial Crimes Enforcement Network (FinCEN) is alerting financial institutions to a rise in fraud trends related to the health care industry as the coronavirus pandemic continues. FinCEN outlines 16 red flag indicators to look out for, and provides additional details into submitting suspicious activity reports (SARs) for these frauds.


Vehicle sales rise in January; NAFCU expects strong sales throughout 2021 [ [link removed] ]
Total vehicle sales grew in January, jumping from 16.2 million annualized units to 16.6 million during the month; however, sales fell 1.4 percent since this time last year. NAFCU Chief Economist and Vice President of Research Curt Long noted that light truck sales have continued to drive most sales as auto sales are down significantly year-over-year. 



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