Additional PPP funding will likely be needed in 2021, CUNA wrote to the Senate Small Business Committee prior to its hearing on the nomination of Isabella Casillas Guzman to lead the SBA. Credit unions helped facilitated more than 200,000 PPP loans.

CUNA launched its first MAP campaign this week calling on credit unions to educate members about the credit union difference. MAP credit unions can customize and distribute long and short-form template, as well as an additional template asking members to share why they joined.

Additional flexibility granted by Congress would ensure credit unions can continue to serve pandemic-affected members, CUNA wrote to the Senate Banking Committee in advance of its hearing on rebuilding Main Street in the wake of the pandemic.

CUNA and other trade organizations followed up a meeting with the Federal Communications Commission last week with a letter sent Tuesday asking for error correction in the agency’s December 2020 Telephone Consumer Protection Act Report and Order.

The advocacy challenge ahead is maintaining progress and taking advantage of opportunities in a different political environment, wrote CUNA Chief Advocacy Officer Ryan Donovan in Credit Union Times this week, as CUNA prepares for its annual GAC.

The CFPB is reconsidering whether to initiate a rulemaking to revisit the Seasoned QM rule, and it expects to issue a proposal shortly to delay the July 1 mandatory compliance date of the General QM final rule.

Congress should explore ways to leverage the credit union system to bring about greater and more equitable financial inclusion, including field of membership updates, CUNA wrote to the House Oversight and Reform Committee Wednesday.

NCUA and other federal and state regulators recognize the serious impact of Texas Winter Storms on consumers and operations of many financial institutions and will provide appropriate regulatory assistance to affected institutions subject to their supervision.

Women CEOs from 13 credit unions of asset sizes $300M or less from across the nation came together to launch the Credit Union Women’s Leadership Alliance, a support system to share best practices, offer opportunities for mentorship, better support the communities they serve.  

Both chambers of Congress are in session this week, and both are expected to consider the $1.9 trillion COVID relief legislation through the budget reconciliation process. The House Budget Committee will mark up its legislation starting Monday.