Also: Senate updates on votes, power-sharing deal, more to know; Insights from small biz lending, COVID relief hearings



NAFCU TODAY | The News You Need Daily.

February 5, 2021



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NAFCU, CUs meet with House Financial Services Committee Ranking Member McHenry [ [link removed] ]
Representatives from NAFCU-member credit unions Thursday joined members of the association's advocacy team for a virtual meeting with House Financial Services Committee Ranking Member Patrick McHenry, R-N.C. During the meeting the group discussed a number of key industry issues, including the financial impacts the pandemic is having on credit unions, measures that can provide support for credit unions and their members amid the ongoing pandemic, the importance of liability protections for credit unions, and the outlook on data privacy and security.


4 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 Congress' efforts to pass additional coronavirus relief via reconciliation, the Senate's power-sharing agreement, and more.


House committees review state of small biz economy, coronavirus response [ [link removed] ]
The House Small Business Committee Thursday held a hearing to discuss the state of the small business economy amid the coronavirus pandemic. Ahead of the hearing, NAFCU shared how credit unions have stepped up to ensure small businesses in their communities are supported amid the pandemic, and reiterated how providing credit unions with relief from the arbitrary member business lending (MBL) cap would allow the industry to provide more assistance.






NAFCU to CFPB: Financial record access must be fair, secure [ [link removed] ]
In response to the CFPB's advance notice of proposed rulemaking (ANPR) on section 1033 of the Dodd-Frank Act, NAFCU's Andrew Morris detailed the association's concerns and advised the bureau to "avoid implementing section 1033 in a way that impairs a credit union's ability to protect its members' data from the risk of theft or abuse."


This week on the Compliance Blog: Interagency BSA/AML FAQs, HMDA best practices, CFPB updates [ [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.



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