Ahead
of NCUA meeting, NAFCU reiterates opposition to SIF premium
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
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
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.
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FOMC
minutes reveal potential for boost in economic activity
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
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
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.
