NAFCU
flags liquidity concerns for FHFA
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
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
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.
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Revolving
credit drops consumer credit in January
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.
