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More PPP Money Will Be Needed to Help Recovery, Nussle Tells Congress
It’s Groundhog Day: Postal Banking Remerges
Biden Administration Promises Smoother PPP Process
In Ongoing Feud, NCUA's Hood Blasts McWatters Over Cost of Office Furniture
CU Trades Say Premium Not Needed Despite 1.26% Equity Ratio
NCUA Equity Ratio Drops to 1.26%, Board Does Not Impose Immediate Premium
Credit Unions Say SBA Has Improved Management of PPP Lending, But That Problems Persist
CUs May Be Headed for Showdown With Harper on Overdraft Rule
NCUA Failed to Inform Examiners of Consumer Complaints: IG Report Says
CUNA Continues Push for Liability Protection from Coronavirus Lawsuits
CUNA signed a letter with hundreds of other organizations urging Congress to include temporary coronavirus liability protection in any new economic stimulus legislation.
NAFCU Highlights Advocacy Agenda in Letter to Lawmakers
NAFCU sent members of the new Congress a letter outlining the trade group’s priorities.
Waters Asks Biden to Kill Trump’s ‘Midnight Rules’
House Financial Services Chairwoman Maxine Waters (D-Calif.) is urging President-elect Joe Biden to reverse so-called “midnight rulemaking” by outgoing Trump Administration agencies, including the NCUA and the CFPB.
Future NCUA Rulemaking Remains Unclear
The NCUA held a webinar to discuss new board Chairman Todd Harper's priorities and the main message from Harper is that he cares about continuing to advance economic equity and justice, as well as consumer protection efforts. It is not clear what he plans to do about some of the proposed rules that were approved before he became chairman.
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Bankers & Credit Unions Fighting Again Over Field of Membership Rules
In December, the National Credit Union Administration approved a proposed rule that would expand credit union fields of membership. Bankers claim the rule would permit an illegal expansion of those fields.
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Banking Chairman: Marijuana Banking Bill Will Have to Wait for Sentencing Reform
Cannabis banking legislation just got more complicated since Senate Banking Chairman Sherrod Brown (D-Ohio) says it should be combined with comprehensive criminal sentencing reform, which goes through the Judiciary committees.
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NCUA Renewing Streamlined CDFI Application Process
The NCUA will begin accepting applications on Jan. 24 for federally insured, low-income credit unions that want to use the agency’s streamlined qualification process to be certified as Community Development Financial Institutions. The application deadline is April 3.
CFPB’s Kraninger Resigns at Request of President Biden
Consumer Financial Protection Bureau Director Kathleen Kraninger resigned January 20, at the request of President Biden. Biden intends to nominate Federal Trade Commissioner Rohit Chopra to head the CFPB.
Kyle Hauptman Sworn In as NCUA Board Member
Kyle Hauptman was sworn in by Chairman Rodney Hood as a member of the National Credit Union Administration board on Monday, December 14, 2020.