CUNA News
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • Topics
    • Community Service
    • Compliance
    • Credit Union Hero
    • Credit Union Rock Star
    • Credit Union System
    • Directors
    • Human Resources
    • Leadership
    • Lending
    • Marketing
    • Operations
    • Policy & Issues
    • Sales & Service
    • Technology
  • Credit Union Magazine
    • Buyers' Guide
    • COVID-19
    • Digital Edition
    • Credit Union Hero
    • Credit Union Rock Star
    • Subscribe
    • Advertise
    • Contact
  • Advertise
  • Awards
    • Nominate Credit Union Hero
    • Nominate Credit Union Rock Star
  • Podcasts
  • Videos
  • Contact

News

Home » Additional actions needed to address pandemic’s economic consequences
Policy & Issues

Additional actions needed to address pandemic’s economic consequences

September 30, 2021
Conv

Additional Congressional action will be needed to address the economic consequences of the pandemic, CUNA wrote to the House Financial Services Committee Thursday. Treasury Secretary Janet Yellen and Federal Reserve Chairman Jerome Powell testified before the committee on pandemic relief programs.

“America’s credit unions appreciate the Treasury and Federal Reserve’s swift response to the pandemic, however, more needs to be done now and for future disaster response. We look forward to working with [the committee] in order to advance legislation that provides relief and spurs economic growth for credit unions, their members, and communities.”

Specifically, CUNA calls on Congress to:

  • Provide temporary flexibility to NCUA to offer forbearance from Prompt Corrective Action requirements.
  • Permanently extend the CARES Act Central Liquidity Facility (CLF) increased borrowing authority and other enhancements
  • Exempt member business loans from the cap during and for one year after the national emergency
  • Remove field of membership restrictions.

Credit Union Magazine: Spring 2022

Spring 2022

Credit Union Magazine’s Spring 2022 edition profiles four Credit Union Heroes and examines CUNA's advocacy priorities, the advocacy army, and financial well-being for all.
Digital Edition •  Subscribe

Trending

  • House passes CUNA-backed fair hiring bill

  • House committee to mark up field of membership modernization bill

  • Final flood Q&As reflect CUNA-sought clarifications

Tweets by CUNA_News

Polls

Are you ready for CECL?

View Results
More

Champion for the Credit Union Movement

Credit Union National Association is the most influential financial services trade association and the only national association that advocates on behalf of all of America's credit unions. We work tirelessly to protect your best interests in Washington and all 50 states. We fuel your professional growth at every level and champion the credit union story at every turn.

More CUNA

  • Membership
  • Contact Us
  • Careers

Resources for

  • Credit Union Advocates
  • Leagues
  • Press
  • Providers

Our Affiliates

  • American Association of Credit Union Leagues (AACUL)
  • Credit Union Awareness
  • Credit Union House
  • CUNA Strategic Services
  • National Credit Union Foundation
GET CUNA UPDATES
© 2022 Credit Union National Association | ADA Compliance Notice & Legal
Email Us