Credit unions make a difference when they’re needed most, including during the coronavirus disease (COVID-19) pandemic, CUNA Chief Advocacy Officer Ryan Donovan wrote to all 535 Congressional offices Friday.
The House passed and President Donald Trump has signed into law the latest COVID-19 relief bill Friday, one with several provisions for credit unions. CUNA/League advocacy helped ensure credit unions were included in several provisions.
NCUA’s latest Letter to Credit Unions highlights a joint statement from federal financial regulators on encouraging responsible small-dollar lending during the COVID-19 pandemic, a statement expressly encouraging credit unions to offer responsible small-dollar loans.
CUNA President/CEO Jim Nussle spoke with CFPB Director Kathy Kraninger Tuesday on credit union issues relating to the coronavirus outbreak, which follows CUNA’s letter to the CFPB last week on finalizing its Remittance Rule.
As Congress and the Administration respond to the coronavirus disease crisis, credit unions and banks will continue to offer assistance to customers directly affected, wrote CUNA and other financial services trade organizations to a group of Senators Tuesday.
While CUNA supports increasing access to energy efficient housing modifications, the absence of conventional PACE loan consumer protections and adequate safeguards have left homeowners vulnerable and could lead to unexpected or unintended effects on the housing market.
NCUA issued a letter to credit unions Monday outlining the agency’s actions related to the coronavirus pandemic. NCUA is limiting examination and supervision work over the next couple of weeks to offsite procedures, with a few exceptions.
A bipartisan commission leading the CFPB would ensure its political independence, CUNA and other trade organizations wrote Friday. The organizations wrote in support of the Consumer Financial Protection Commission Act of 2020, introduced by Rep. Blaine Luetkemeyer (R-Mo.).
Small Business Administration Administrator Jovita Carranza said Thursday the agency will provide up to $2 million in disaster relief loans for small businesses affected by the coronavirus disease (COVID-19).
The CFPB should quickly finalize its proposal amending the Remittance Rule and to exercise its authority to permit compliance flexibility for remittances sent to individuals in countries affected by the growing public health concern surrounding coronavirus disease.