Ryan Donovan

Donovan: COVID recovery bill negotiations continue

October 5, 2020

CUNA Chief Advocacy Officer Ryan Donovan gave an update on the latest COVID-19 recovery package and more in this week’s Advocacy Update video. The House and Senate are out of session this week.

On the appropriations side, CUNA continues to prioritize funding for the Treasury’s Community Development Financial Institutions Fund, NCUA’s Community Development Revolving Loan Fund and the U.S. Agency for International Development’s Cooperative Development program.

Donovan also noted that negotiations continue for another COVID-19 relief bill.

CUNA priorities for the legislation include:

  • Extension of Troubled Debt Restructuring accommodations and Central Liquidity Facility authorities;
  • Prompt Corrective Action flexibility;
  • Paycheck Protection Program flexibility;
  • Liability protection; and
  • State and local funding.

He also highlighted CUNA’s comments on “Seasoned” QMs and the TRACED Act last week, as well as upcoming deadlines for comments on the Federal Housing Finance Agency’s housing goals, NCUA’s current expected credit loss (CECL) methodology