NCUA should continue its COVID-19 policy accommodations, CUNA wrote to the Senate Banking, Housing, and Urban Affairs Committee Tuesday. NCUA Chairman Todd Harper, along with other federal financial regulators, testified before the committee Tuesday.
“We appreciate the steps the agency has taken the past year to address pressures on credit unions in connection with the ongoing COVID-19 pandemic,” the letter reads. “These include several interim final rules, including a recently adopted interim final rule that continues relief provided in a 2020 rule related to prompt corrective action (PCA). We are hopeful that the agency will remain responsive and open to the needs of credit unions and their members during this global crisis.”
Additional highlights of the letter include: