Also: NAFCU's Bruyere shares litigation developments; Fed proposes account, payment service access guidelines
NAFCU TODAY | The News You Need Daily.
May 6, 2021
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SBA: PPP borrowers waiting approval should be referred to CDFIs, MDIs [ [link removed] ]
While the Small Business Administration's (SBA) paycheck protection program (PPP) has less than a month remaining, the agency announced that it has stopped accepting applications from most lenders due to funding constraints.
NAFCU's Bruyere updates CUs on litigation trends [ [link removed] ]
NAFCU Vice President of Regulatory Compliance Brandy Bruyere has a new post on NAFCU's member-only Compliance, Risk, and BSA Network detailing new developments in litigation that could impact credit unions.
Fed proposes guidelines for account, payment service access [ [link removed] ]
The Federal Reserve Wednesday issued a request for comment on a set of proposed guidelines the central bank will use when evaluating requests for accounts and payment services at Federal Reserve Banks. NAFCU has raised concerns about Fed access for fintech companies as they could pose risks to the financial system.
The NAFCU Journal: Explore how CUs reacted to PPP demand, enhanced pandemic-related fraud, more [ [link removed] ]
The May-June edition of The NAFCU Journal is now available with features tackling how credit unions revamped their processes to meet paycheck protection program (PPP) needs, the importance of monitoring potential fraud risks amid the pandemic, and why stress testing is an important part of planning ahead. Articles and columns in this issue provide insights from industry leaders and experts and can be viewed anytime on the new virtual hub.
CDC's eviction moratorium overturned; CFPB reports forbearance trends, complaints [ [link removed] ]
A U.S. district court judge Wednesday vacated the Centers for Disease Control and Prevention's (CDC) Public Health Service Act order that halted residential evictions nationwide through June 30, determining that the agency overstepped its authority.
NAFCU's BSA School, Summer Reg Compliance School now fully virtual with new dates [ [link removed] ]
NAFCU has taken a responsive and innovative approach to online training amid the coronavirus pandemic and has worked to deliver uninterrupted, top-notch content with in-demand experts to help credit unions and their employees navigate the changing landscape. As the association continues to assess a return to normalcy in the wake of the pandemic and receive feedback from credit union members, NAFCU has decided to pivot this year's BSA School and Summer Regulatory Compliance School to be fully virtual.
As NAFCU anticipated, vehicle sales continue strong in April [ [link removed] ]
Total vehicle sales stayed strong in April growing from 18 million annualized units to 18.5 million during the month. Monthly sales levels were up a massive 112.2 percent year-over-year. NAFCU Chief Economist and Vice President of Research Curt Long analyzed the positive report in a new Macro Data Flash report.
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