Also: NAFCU-sought bill to provide loan maturity flexibility introduced; CUs working to get EIPs to members, says NAFCU



NAFCU TODAY | The News You Need Daily.

March 17, 2021



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NAFCU touts CU difference as bankers launch new attack [ [link removed] ]
As a banking trade group recently made yet another attempt to stifle credit unions' ability to serve their 124 million members and reach underserved communities by sending a message to the Hill urging lawmakers to subject the credit union industry to more regulations and remove the credit union tax exemption, NAFCU is setting the record straight.


NAFCU-sought NCUA loan flexibility bill introduced in Senate [ [link removed] ]
Senate Banking Committee Members Tim Scott, R-S.C., and Catherine Cortez Masto, D-Nev., Tuesday introduced NAFCU-sought legislation that would give the NCUA greater flexibility in setting loan maturity limits under the Federal Credit Union Act.


NAFCU addresses CU efforts to release EIPs to members, availability of funds [ [link removed] ]
NAFCU Executive Vice President of Government Affairs and General Counsel Carrie Hunt yesterday issued a statement in response to the ongoing roll out of economic impact payments (EIPs) to consumers. In addition, the association joined with several financial services trades to specify that funds from the initial wave of EIPs issued by the IRS will be sent to banks and credit unions today.






NCUA's annual report details efforts to manage COVID crisis [ [link removed] ]
The NCUA Tuesday released its 2020 Annual Report, which provides insights into the agency's performance over the past year and highlights its efforts to support the credit union industry and its 124 million members impacted by the coronavirus pandemic.


NAFCU recommends more ways to support small biz [ [link removed] ]
The Senate Small Business Committee today is set to review the impact of the Small Business Administration's (SBA) paycheck protection program (PPP) and consider next steps to further support recovery from the coronavirus pandemic. Ahead of the hearing, NAFCU's Brad Thaler offered recommendations to strengthen the PPP and other small business lending programs.


Virtual Reg School day 2 tackles e-sign, Regulation E, privacy, more [ [link removed] ]
Today, the second day of NAFCU's Virtual Regulatory Compliance School kicks off with a session to tackle general disclosure requirements and advertising rules under the Truth in Savings Act. Additionally, NAFCU Vice President of Regulatory Compliance Brandy Bruyere will host two live Q&A sessions during the day where attendees will have the chance to ask the session speakers questions.


Retail sales see 'unsurprising' fall in February; NAFCU expects steady growth in 2021 [ [link removed] ]
Total retail sales slid 3 percent in February, following a 7.6 percent surge the previous month. Of note, the January number was revised up 2.3 percentage points.



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