Berger, Calabria discuss CU relief efforts, housing finance reform
NAFCU President and CEO Dan Berger spoke with Federal Housing Finance Agency (FHFA) Director Dr. Mark Calabria Wednesday about a number of industry issues, including credit union lending trends and ongoing housing finance reform efforts. NAFCU Executive Vice President of Government Affairs and General Counsel Carrie Hunt and Director of Regulatory Affairs Ann Kossachev also joined the discussion.

New Compliance Monitor tackles NCUA's 2021 supervisory priorities, litigation trends
The new edition of NAFCU's Compliance Monitor – a member-only compliance resource available now in its digital format – features a review of the NCUA's 2021 supervisory priorities, including the nine areas of primary focus for the agency with regard to exams. In addition, the Monitor breaks down ongoing class action litigation trends to be aware of in 2021.

Acting director seeks to 're-orient' CFPB's work
CFPB Acting Director Dave Uejio yesterday shared his vision for the bureau's Division of Consumer Education and External Affairs (CEEA) as it works to implement his policy priorities. Uejio has said providing relief to consumers facing hardship due to the coronavirus pandemic and racial equality are among his priorities, and previously indicated the bureau will be focused on improving the consumer experience.

Build and Strengthen Your Core Compliance Knowledge
Attend NAFCU's Virtual Spring Regulatory Compliance School to understand credit union compliance from A to Z.

SBA explains PPP hold, error codes in new notice
The Small Business Administration (SBA) Wednesday issued a new procedural notice to revise procedures related to hold codes on first-draw paycheck protection program (PPP) loans and other error messages. The resolution process to clear hold and error codes is expected to be available today.

CPI increase fueled by rise in energy, apparel prices; Powell speaks on labor market
On a seasonally-adjusted basis, overall consumer prices rose 0.3 percent in January, with the Bureau of Labor Statistics reporting the overall consumer price index (CPI) grew 1.4 percent over the 12-month period. In a new Macro Data Flash report, NAFCU Chief Economist and Vice President of Research Curt Long noted that most of the inflation was concentrated in energy and apparel prices.

House committees continue markups on COVID relief
After beginning their work yesterday, a number of House committees, including the Financial Services and Ways and Means Committees, are set to continue their markups of legislation to provide additional coronavirus-related relief and stimulus, which include several provisions that could impact credit unions and their members. The budget resolution passed by the House and Senate last week contained instructions to committees to advance proposals of President Joe Biden's $1.9 trillion coronavirus relief package.