Also: NAFCU to FCC: Consumers must receive vital info; Join NAFCU leaders for key industry update



NAFCU TODAY | The News You Need Daily.

June 7, 2021



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NAFCU calls for CDFI and MDI participation in SSBCI [ [link removed] ]
On Friday, NAFCU and Inclusiv sent a joint letter in response to the Treasury Department’s notice and request fortreasury information regarding the State Small Business Credit Initiative (SSBCI). The comment letter addresses the set aside for business enterprises that are owned and operated by socially and economically disadvantaged individuals; however, the SSBCI program is available for all insured credit unions. Both NAFCU and Inclusiv represent credit unions that are community development financial institution (CDFI) certified, low income designated, and minority deposit institution (MDI) certified.


NAFCU urges FCC to foster regulatory system that allows consumers to receive important information [ [link removed] ]
NAFCU and several other trade organizations wrote to the Federal Communications Commission (FCC) to ensure that companies can contact consumers with vital information using the telephone method. In the letter, NAFCU and the trade associations specifically opposed USTelecom’s petition to have the FCC reconsider certain aspects regarding blocked calls, including eliminating requirements on notifications when a call has been blocked.


Join NAFCU leaders to hear the latest from Washington [ [link removed] ]
NAFCU President and CEO Dan Berger and other association leaders will provide member credit unions with a review of the first half of 2021 during NAFCU's Q2 Member Webinar. A panel discussion featuring NAFCU's experts will tackle topics ranging from the association's latest advocacy efforts on Capitol Hill and with regulators, and updates related to President Joe Biden’s proposed budget for fiscal year 2022.






This week: NAFCU actively engaging with lawmakers [ [link removed] ]
The Senate is in session, and the House is in committee work this week. In addition to engaging with lawmakers duringCapitol Hill hearings on issues impacting credit unions, NAFCU's award-winning advocacy continues to advocate for credit unions to help them move forward and grow.


May jobs report lower than expected [ [link removed] ]
​The Bureau of Labor Statistics reported non-farm payrolls increased 559,000 in May, and the unemployment rate fell to 5.8 percent. NAFCU Chief Economist and Vice President of Research Curt Long analyzed the report in a new NAFCU Macro Data Flash report.

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NCUA notifies CUs of renewed PCA relief [ [link removed] ]
The NCUA Friday issued a Letter to Credit Unions addressing its interim final rule (IFR) renewing temporary prompt corrective action (PCA) regulatory relief for federally-insured credit unions. The NCUA Board approved the IFR in April; the initial IFR to provide this relief expired in December.



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