The NCUA board passed a final real estate appraisals rule, approved an exemption from the Bank Secrecy Act’s Customer Identification Program and heard a briefing on the new MERIT Examination system at its Thursday meeting.
CUNA joined dozens of organizations Thursday to call on Congressional leaders to support House and Senate bills to forgive Paycheck Protection Program loans under $150,000. The letter cites analysis showing an effective cost of $2,000-$4,000 for each business that applies for forgiveness.
The CFPB released the names of the latest Credit Union Advisory Council members Wednesday, and as in previous iterations of the CUAC all members come from CUNA-affiliated credit unions. The CUAC advises and consults with the CFPB on consumer financial issues related to credit unions.
More than six months into the COVID-19 crisis, the credit union industry continues to face new issues, CUNA wrote to NCUA Chairman Rodney Hood Wednesday reiterating several specific concerns it is hearing from credit unions and members, and including policy recommendations.
Quickly enacting the Paycheck Protection Program Small Business Forgiveness Act (S. 4117/H.R.7777) would help small businesses that need forgiveness to be as simple, cost-effective and efficient as possible, CUNA, AACUL and all League presidents wrote to Congressional leaders this week.
The FHFA should ensure there is consistency between the policies within their regulatory purview and the directives of Congress during the COVID-19 recovery, CUNA wrote to the House Financial Services Committee before it hears testimony Wednesday from FHFA Director Mark Calabria.
Updates to the E-SIGN Act, enacted in 2000, is necessary due to technology developments over the past 20 years, CUNA wrote to Senate Commerce Committee leadership Tuesday. The committee is expected to conduct a markup of legislation this week that includes the CUNA-supported E-SIGN Modernization Act.
The House and Senate are in session this week, and CUNA will be engaged in a number of hearings and a Senate Committee markup. CUNA Chief Advocacy Officer Ryan Donovan also offers the latest on COVID-19 relief legislation and more in this week’s Advocacy Update video.
New Orleans Firemen’s FCU was named the winner of the CUNA Councils ALL TOGETHER campaign prize. Every credit union that had at least one member in each of the eight CUNA Councils by August 21 was entered in a drawing to a prize valued at up to $10,000.