Also: PPP loan facility extended, SBA data shows small biz reach; Ways to make NCUA comms more effective
NAFCU TODAY | The News You Need Daily.
March 9, 2021
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NAFCU flags liquidity concerns for FHFA [ [link removed] ]
As the Federal Housing Finance Agency (FHFA) considers minimum liquidity and funding requirements for the government-sponsored enterprises (GSEs), NAFCU's Ann Kossachev urged the agency "to thoroughly consider the impact of this liquidity requirements rule on the cost and availability of mortgage loans for the most vulnerable consumers."
Fed extends PPPLF to June 30; SBA releases updated PPP data [ [link removed] ]
The Federal Reserve Monday announced it will extend its Paycheck Protection Program Liquidity Facility (PPPLF) to June 30. The facility is one of the several programs created by the Fed to support the flow of credit to businesses at the onset of the coronavirus pandemic.
NAFCU provides NCUA with suggestions for effective communication, increased transparency [ [link removed] ]
NAFCU Regulatory Affairs Counsel Aminah Moore Monday noted several ways to improve the NCUA's communication methods in response to the agency's request for information (RFI) on this topic. Moore suggested areas to increase transparency and offered support for the NCUA's acknowledgement of the need to communicate effectively with credit unions.
Revolving credit drops consumer credit in January [ [link removed] ]
Total consumer credit fell for the 10th time in the past 12 months, declining 0.4 percent in January (seasonally-adjusted, annualized). Revolving credit – primarily credit cards – was the driving force behind the drop as it fell 12.1 percent during the month and is down 11.6 percent compared to a year ago.
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