Also: Thaler pushes CU priorities as Senate Banking explores COVID response; SBA adjusts payments for some loans



NAFCU TODAY | The News You Need Daily.

February 18, 2021



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Ahead of NCUA meeting, NAFCU reiterates opposition to SIF premium [ [link removed] ]
The NCUA Board meets today and is set to receive a briefing on the National Credit Union Share Insurance Fund (NCUSIF). Following the release of audit reports on the NCUA's four funds – including the NCUSIF, which showed its equity ratio stood at 1.26 percent at the end of 2020 – NAFCU's Curt Long argued that a premium is not necessary as the SIF's "audited financial statements show that the fund remains in a solid position."


NAFCU outlines CU relief measures as Senate committee tackles coronavirus response [ [link removed] ]
Ahead of today's Senate Banking Committee hearing to discuss the response to the coronavirus pandemic and relief needed to recover from ongoing circumstances, NAFCU's Brad Thaler highlighted tools and flexibilities that will allow credit unions to continue to support their members and communities.


SBA adjusts payments for certain loans, issues new PPP data [ [link removed] ]
The Small Business Administration is adjusting payments of principal and interest for its 7(a), 504, and microloan programs after determining that the $3.5 billion appropriated under section 1112 of the CARES Act is insufficient.






FOMC minutes reveal potential for boost in economic activity [ [link removed] ]
According to NAFCU's Curt Long, minutes from the Federal Open Market Committee's (FOMC) January videoconference meeting suggest the committee viewed the stimulus provided by the passage of the Consolidated Appropriations Act (CAA) in December, combined with the likelihood of additional fiscal support and the anticipated continued progress in vaccinations, as factors pointing toward a sizable boost in economic activity.


Consumer behavior, digital payments, more wrap up Strategic Growth Conference [ [link removed] ]
NAFCU's Virtual Strategic Growth Conference wraps up today with sessions on consumer behavior, digital payments, and more. NAFCU Executive Vice President of Government Affairs and General Counsel Carrie Hunt will kick off the day by walking attendees through the impacts of the 2020 election and regulatory changes credit unions should be aware of.


Retail sales increase in January, future outlook remains positive [ [link removed] ]
Total retail sales increased 5.3 percent in January, after dropping 1 percent in December and 1.3 percent in November. Of note, the December number was revised down 0.3 percentage points.



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