The House is in session this week and will be voting remotely for the first time ever, and will likely consider two bills making changes to the Paycheck Protection Program, the TRUTH Act and the PPP Flexibility Act of 2020.
Credit unions will get information on the regulatory and legislative enhancements made to the Central Liquidity Facility during an on-demand webinar released Monday by NCUA explaining how it works and fits within a credit union’s broader liquidity risk-management program.
NCUA Board Member Todd Harper participated in a call with CUNA’s Examination and Supervision Subcommittee Thursday afternoon, where members discussed their current state during the pandemic, and actions NCUA could take to help ease current pressures.
CUNA and other organizations filed reply comments to their petition to the FCC calling for TCPA relief for calls made from financial institutions to consumers related to the pandemic. CUNA and the organizations filed the original petition March 30.
The NCUA Board considered an interim final rule at its Thursday meeting that would have permanently amended one of the requirements that a federal credit union must adopt as a part of their written overdraft policy, but the item was tabled.
The NCUA Board issued a proposed rule on joint ownership accounts and an interim final rule granting prompt corrective action flexibility during its Thursday board meeting, conducted via live audio stream. The board also heard an update on the NCUSIF.
President Donald Trump issued an executive order Wednesday calling for agencies to address the COVID-19 economic emergency by rescinding, modifying, waiving, or providing exemptions from regulations and other requirements that may inhibit economic recovery.
NCUA, along with other federal financial institution regulatory agencies Wednesday issued principles for offering small-dollar loans in a responsible manner to meet financial institutions customers' short-term credit needs and listing reasonable loan policies and sound risk management practices.