SBA:
PPP borrowers waiting approval should be referred to CDFIs, MDIs
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
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
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.
Starting Next Week: Virtual CEOs and
Senior Executives Conference
Join us virtually from your home or
office to gain insights from industry leaders as they outline the most impactful
forces affecting your credit union.
The
NAFCU Journal: Explore how CUs reacted to PPP demand, enhanced pandemic-related fraud, more
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
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
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
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.
