CUNA Chief Advocacy Officer Ryan Donovan outlined what the recently passed coronavirus disease (COVID-19) stimulus package means for credit unions and more about the current state of credit union advocacy in this week’s advocacy update video.
“A lot of work went into putting together this legislation, which came together in a short amount of time,” Donovan said. “CUNA and Leagues were fully engaged at all levels, weighing in with the Senate to make sure credit unions were included in critical provisions.”
Donovan, who reached out to all 535 Congressional offices with information on how credit unions are serving members during the pandemic, also reiterated the call for credit unions to fill out CUNA’s survey on what credit unions are doing for members.
Donovan also provided details on the latest CUNA/League outreach to regulators to secure COVID-19 related relief, including on removing the Regulation D transfer limit, delaying implementation of the current expected credit loss (CECL) and engagement with NCUA, the Consumer Financial Protection Bureau, Small Business Administration, Financial Crimes Enforcement Network and Federal Communications Commission.