The House and Senate are both in session this week and CUNA will engage committees on both chambers on a number of hearings, including one on PPP loan forgiveness and one on COVID-19 related fraud and scams.
President Donald Trump announced Monday the nomination of Kyle Hauptman to the NCUA board. He is currently an advisor for Sen. Tom Cotton (R-Ark.) on economic policy and staff director of the Senate Banking Committee’s subcommittee on economic policy.
Congress can increase support to millions of American small business feeling the impact from the pandemic with no cost to the taxpayer, Ryan Goff of the American Taxpayer Union wrote this week, and credit unions are eager to help.
NCUA and the Export-Import Bank of the United States this week launched a three-year collaborative effort to undertake a series of initiatives that will help credit unions better understand and make use of EXIM guaranteed loans and resources.
While credit unions agree with the spirit of a proposed to provide monthly stimulus payments to be distributed to direct deposit to a new, Fed-backed account, CUNA believes Americans would best be served by leveraging the system currently in place.
CUNA wrote in support of several housing assistance bills Wednesday, bills that would help renters and homeowners remain in their homes as the economy recovers, while taking into account all stakeholders throughout the mortgage and rental pipelines.
A recent Federal Housing Administration policy will hamper access to FHA-insured loans during the COVID-19 crisis, as excessive indemnification requirements “will effectively force lenders to impose higher credit and financial overlays to protect against risks that they cannot control” during underwriting.
More than 25 credit union-supported candidates won their primary elections Tuesday in Georgia, Maine, North Dakota, Nevada, South Carolina and West Virginia. As of June 10, credit union supported candidates across the country have been successful in 199 races.
Credit unions are a vital component to the delivery of financial services to many Americans and credit union members should have equal access to the Paycheck Protection Program, CUNA wrote to Senate Small Business Committee leadership Wednesday.