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.
A total of three bills that would provide important updates to the Federal Credit Union Act were introduced during CUNA GAC this week. the result of CUNA/League advocacy to increase access to safe and affordable credit union products and services.
Reps. Katie Porter (D-Calif.) and Mark Amodei (R-Nev.) introduced the latest bipartisan Federal Credit Union Act modernization bill Wednesday, which would modify the FCU Act requirement that credit union boards meet once a month to not less than six times per year.
Updating the federal credit union charter will help credit unions increase service to members and communities, CUNA President/CEO Jim Nussle wrote in CUToday Wednesday. Charter modernization is a top CUNA/League priority in 2020.