CUNA supports NCUA’s proposal on fees paid by federal credit unions, including the proposed the proposed exclusion of Paycheck Protection Program loans from a federal credit union’s total assets for purposes of calculating its operating fee.

October marks Cybersecurity Awareness Month, and CUNA’s Compliance staff take a deep dive into the briefing received by the NCUA Board on what credit union boards should be asking credit union management and their respective IT/cybersecurity staff.

The NCUA Board will conduct a meeting Oct. 28 to discuss a proposed interagency rule on the role of supervisory guidance. Federal financial regulators including NCUA released a joint proposed rule on the role of supervisory guidance Oct. 20.

CUNA wrote Reps. Barry Loudermilk (R-Ga.) and David Scott (D-Ga.) Thursday in support of their legislation that would prevent regulatory penalties for PPP lenders. Credit unions made more than $10 billion in PPP loans, helping protect more than 100,000 jobs.

NCUA board member Todd Harper joined the American Association of Credit Union Leagues’ (AACUL) Regulatory Advocacy/Compliance Advisory Committee Wednesday to discuss credit union policy issues, including responses to the COVID-19 pandemic.

The Federal Reserve announced the creation of the FedNow Pilot Program to support development, testing and adoption of the FedNow Service. CUNA supports ongoing development of FedNow, a 24x7x365 interbank settlement service.

A bipartisan group of lawmakers Tuesday sent a letter to Speaker of the House Nancy Pelosi (D-Calif.) and House Minority Leader Kevin McCarthy (R-Calif.) calling for a one-year extension to existing TDR and CLF regulations, an issue championed by CUNA, the Leagues, and credit unions.

Federal financial regulators including NCUA released a joint proposed rule on the role of supervisory guidance Tuesday. The proposal codifies a September 2018 statement from the same agencies that supervisory guidance does not have the force and effect of law.

CUNA President/CEO Jim Nussle talked with NCUA board member Todd Harper this week, a follow-up conversation from CUNA’s letter sent Sept. 16. The conversation was the latest in CUNA’s continued engagement with NCUA leaders and staff on pandemic-related issues.

A major impact of the pandemic financial services providers continue to deal with is a shortage of coins, CUNA Senior Director of Advocacy for Payments and Cybersecurity Lance Noggle and Joan Baldi of SAFE CU, Folsom, Calif., told Bankrate recently for an article documenting the latest on the shortage.