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.
CUNA is increasingly concerned about the impact a large number of mortgage forbearances will have on the liquidity of mortgage servicers, and called for guidance or clarity on several issues in a letter to the Senate Banking Committee.
Credit unions and their member-owners can receive an update on the impact of elder financial exploitation and other COVID-19 related scams in a June 11 webinar hosted by NCUA. The webinar is scheduled begin at 2 p.m. (ET) June 11.
The credit union philosophy sets them apart from banks, particularly in a crisis, CUNA Chief Economic Mike Schenk told Money for an article highlighting the credit union difference in today’s pandemic back to the signing of the Federal Credit Union Act..
As discussions continue on Capitol Hill over a fourth round of comprehensive recovery legislation, CUNA and leagues are “intensely focused” on a number of priorities in their engagement with policymakers, CUNA Chief Advocacy Officer Ryan Donovan says in this week's Advocacy Update.