Also: CFPB acting director, NAFCU talk EIPs; FCC takes actions against robocallers
NAFCU TODAY | The News You Need Daily.
March 18, 2021
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NAFCU highlights key provisions of American Rescue Plan Act in new resource [ [link removed] ]
NAFCU is committed to ensuring credit unions have the resources they need to remain informed of the ever-changing legislative and regulatory environment as they navigate business operations through the coronavirus pandemic and beyond. To further this mission, the association recently released a new complimentary resource summarizing the key provisions of the American Rescue Plan Act of 2021.
CFPB calls on FIs to ensure EIPs reach consumers [ [link removed] ]
CFPB Acting Director Dave Uejio released a statement yesterday calling on financial institutions to ensure consumers receive the full amount of their economic impact payments (EIPs) provided by the American Rescue Plan Act. NAFCU President and CEO Dan Berger and Executive Vice President of Government Affairs and General Counsel Carrie Hunt spoke with Uejio Tuesday to discuss the issue and how credit unions are working to get the payments into members' accounts.
FCC takes actions against robocallers [ [link removed] ]
Federal Communications Commission (FCC) Acting Chairwoman Jessica Rosenworcel outlined several efforts to combat illegal and unwanted robocalls during its open meeting Wednesday. NAFCU has actively worked with the FCC on efforts to modernize the Telephone Consumer Protection Act (TCPA) for many years to ensure credit unions aren't hindered from contacting their members as the commission works to target bad actors.
Today: NCUA Board set to issue rules on CLF, asset thresholds [ [link removed] ]
The NCUA Board meets today and is expected to issue two interim final rules: One related to the Central Liquidity Facility (CLF) and one on asset thresholds pertaining to large credit unions. NAFCU will monitor the meeting, scheduled for 10 a.m. Eastern and available via livestream, and provide credit unions with key updates afterward.
Fed holds rates; NAFCU doesn't expect rate hike prior to 2024 [ [link removed] ]
The Federal Open Market Committee (FOMC) Wednesday maintained the federal funds target rate near its current range of 0 to 0.25 percent. The committee noted it will run the economy above 2 percent inflation, stating they "aim to achieve inflation moderately above 2 percent for some time so that inflation averages 2 percent over time and longer‑term inflation expectations remain well anchored at 2 percent."
Senate plans to take up PPP extension next week [ [link removed] ]
During Wednesday's Senate Small Business Committee hearing to review the paycheck protection program (PPP), Committee Chair Ben Cardin, D-Md., indicated the Senate next week will work to pass legislation to extend the PPP by two months. The House passed the bill Tuesday evening; the PPP is currently set to expire March 31.
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NAFCU Calendar: [link removed]
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