Sen. Richard Shelby (R-Ala.) announced he will not seek re-election in 2022. Shelby, who has served in the Senate since 1987, is the current vice chair of the Senate Appropriations Committee, and previously chaired the Senate Banking Committee.
Sen. Jack Reed (D-R.I.), introduced a bill this week to create a $75 billion Homeowner Assistance Fund. Reed introduced the bill with lead co-sponsors Sens. Sherrod Brown (D-Ohio) and Patrick Leahy (D-Vt.)
Credit unions have continued to lend during the pandemic because their mission is helping people, said CUNA President/CEO Jim Nussle and Senior Economist Jordan van Rijn when discussing credit union lending with CNBC.
Congress should take further legislative action to ensure credit unions remain in position to serve their members, including member business lending and Prompt Corrective Action flexibility, CUNA wrote to the House Financial Services Committee.
CUNA called on the CFPB to ensure all users of consumer financial data comply with consumer data protection requirements in a letter sent Thursday in response to an ANPR on a regulation on access to consumer financial records.
The House passed its budget resolution Wednesday evening by a vote of 218-212. The House and Senate Budget Resolutions begin the process of Budget Reconciliation by which Congress will likely consider the next COVID-19 stimulus package.
CUNA member credit unions continue to be challenged by a slow approval process with the PPP, CUNA wrote to the Small Business Administration Wednesday with several examples of errors that have occurred during application processes.
Congress must include targeted and temporary liability protections as it considers the next round of COVID-19 relief legislation, CUNA and nearly 600 other organizations wrote to all members of Congress this week.
NCUA will hold a webinar on February 11, starting at 2 p.m. (ET) that will provide participants with an update on Chairman Todd Harper’s priorities, the agency’s supervisory activities, and recently issued guidance and regulations, among other topics.