The NCUA Board unanimously approved, by notation vote, a notice of proposed rulemaking that would permit NCUA to issue, on a case-by-case basis, exemptions from SAR filing requirements to federally insured credit unions.

All rules and guidance for any Paycheck Protection Program (PPP) enhancements be issued and finalized before the program goes into effect, CUNA and other organizations wrote to Treasury and Small Business Administration (SBA) leaders Wednesday.

NCUA should publish an interim final rule to allow credit unions to use 2019 asset-size data for regulatory requirements through the end of 2021, CUNA President/CEO Jim Nussle wrote to the NCUA board Tuesday.

The Federal Reserve Board issued a final rule amending Regulation D to lower reserve requirement ratios on transaction accounts maintained at depository institutions to 0%. CUNA fully supports the Federal Reserve Board eliminating reserve requirements for financial institutions. 

A second round of Economic Impact Payments will be sent to around 160 million eligible Americans starting next week due to the passage of the latest COVID relief bill. The government is likely to disburse the majority of the funds via ACH direct deposit.

California Gov. Gavin Newsom has selected California Secretary of State Alex Padilla to fill the seat left open when Sen. Kamala Harris (D-Calif.) is sworn in as vice president. Padilla, since his time in the California State Senate, is a strong credit union supporter.

Federal policymakers unveiled an omnibus spending bill Monday that would fund the federal government through Sept. 30, 2021 and includes several CUNA-sought provisions related to pandemic relief. Congress passed the measure Monday evening.

Financial services employees should be included in Phase 1c of COVID-19 vaccination, a Center for Disease Control and Prevention panel voted Sunday. The presentation from the ACIP COVID-19 Vaccines Work Group covers phased allocations of vaccines.

The NCUA board approved the designation Friday of board member Kyle Hauptman as vice chairman of NCUA, effective immediately, pursuant to the requirements of NCUA’s Rules and Regulations.

Federal policymakers announced an agreement on a bill Sunday that would fund the federal government through Sept. 30, 2021, and provide pandemic relief. Though text of the bill has not yet been made public, several CUNA-sought provisions are anticipated.