The COVID-19 pandemic has caused a disruption to U.S. coin circulation and Americans are urged to use their coins, according to a statement released by the U.S. Coin Task Force. CUNA is a member of the U.S. Coin Task Force.
The Consumer Financial Protection Bureau last week issued updated dollar amount thresholds in Regulation Z for the minimum interest charge, Credit Card penalty fee amounts HOEPA loans and Qualified Mortgages. These changes are effective Jan. 1, 2021.
CUNA fully supports a bill from Rep Chrissy Houlahan (D-Pa.) and Rep Fred Upton (R-Mich.) that would simplify loan forgiveness from the Paycheck Protection Program (PPP). Houlahan and Upton introduced the bill Friday.
The House passed a “minibus” appropriations bill Friday, legislation containing funding for the several government agencies. It includes $17 million for the CUNA-supported Cooperative Development Program, which funds initiatives run by the World Council around the globe.
The COVID-19 pandemic has led to the disruption of supply channels o circulating coinage, the U.S. Mint said in a recent statement. The agency urges consumers to pay for things with exact change and return spare share into circulation.
The CFPB is conducting a survey of institutions offering small business credit products to determine potential one-time costs associated with complying with Section 1071 of the Dodd Frank Act. The survey is available on the CFPB’s website and will remain open until Oct. 1.
The E-SIGN Modernization Act should be included in the next phase of COVID-19 relief legislation, which would remove the requirement in the E-SIGN Act requiring consumers to reasonably demonstrate their ability to access information electronically prior to consenting to electronic records
The NCUA board will vote on a final FOM rule at its July 30 meeting, and will also issue proposals regarding the transition to the CECL methodology and fees paid by federal credit unions, as well as seek comment on OTR and operating fee methodologies.
The Senate passed its fiscal year 2021 NDAA Friday, with a CUNA-opposed provision expanding a military base lease exemption. CUNA, Leagues and credit unions are advocating to ensure it is not included in the final version.
Credit unions, members and member small businesses need resources to get them through the pandemic and recovery period, including an extension of TDR and CLF expansion until at least 2021, plus liability protection and PPP forgiveness simplification.