New
Compliance Monitor tackles fair lending exams, recent court decisions
The new edition of NAFCU's Compliance Monitor – a member-only, digital
compliance resource – features a review of the current focus on fair lending
exams, including an outline of the factors the NCUA will use to determine whether
a federal credit union demonstrates potential high fair lending risk. In addition,
the Monitor breaks down two recent court cases that are noteworthy for credit unions.
FASB
to host CECL roundtable May 20
The Financial Accounting Standards Board
(FASB) is hosting a roundtable on the current expected credit loss (CECL) standard
May 20. The standard is set to take effect for credit unions in 2023; NAFCU continues
to urge FASB to grant credit unions an exemption given their unique structure
and potential impacts on capital and net worth classifications.
$8B
in PPP loans made last week; lawmakers review fraud
Lenders are continuing
to get small businesses access to credit through the Small Business Administration's
(SBA) paycheck protection program (PPP). According to new data released by the
agency, roughly $8 billion of loans were approved over the past week. While the
program runs through March 31, the House Small Business Committee Tuesday discussed
the SBA's implementation of its coronavirus relief programs, including reports of fraud.
CEOs
and Senior Executives Conference
Gain insights from growth-oriented
executives and industry thought leaders as they outline today and tomorrow's most
impactful forces affecting your credit union.
Senators
talk rural economy, importance of CDFIs, disruptions posed by fintechs, more
NAFCU Tuesday monitored the Senate Banking Committee's hearing to examine
the economy of rural areas during which Bill Bynum, president and CEO of NAFCU-member
Hope Credit Union located in Jackson, Miss., testified before the committee and
offered the credit union perspective. During his testimony, Bynum stressed the
need for further funding for community development financial institutions (CDFIs)
and expanded access to financial services in rural areas.
