The Independent Community Bankers of America has launched three grassroots campaigns in its battle against credit unions.
The Credit Union National Association and the National Association of Federally-Insured Credit Unions are taking differing positions on how long a National Credit Union Administration interim final rule allowing temporary deferrals for real estate appraisals should remain in effect.
Credit union trade groups have told the Task Force on Federal Consumer Financial Law, a new CFPB task force, that The Consumer Financial Protection Bureau is over-regulating credit unions, throwing them into the same class as the bad actors that caused the last financial crisis.
The application for loan forgiveness in the Paycheck Protection Program is far too complex and could result in businesses using much-needed funds to hire attorneys and accountants to help them fill out the document, CUNA and state credit union leagues warned Friday.
National Association of Federally-Insured Credit Unions President/CEO B. Dan Berger Thursday asked two National Credit Union Administration board members to reconsider their decision at May’s board meeting and to support Chairman Rodney Hood’s proposal to remove the 45-day time limit for credit unions to “cure” an overdraft by one of its members.
The Credit Union National Association has joined the chorus of business groups calling for temporary liability protection related to the coronavirus pandemic.
As the nation struggles to recover from the pandemic, the two national credit union trade groups have announced plans to explore the impact that the coronavirus crisis has had and what a recovery plan should entail.
Financial trade groups, including the Credit Union National Association and the National Association of Federally-Insured Credit Unions, are renewing their push to convince the Federal Communications Commission to allow financial institutions to use automated telephone calls to reach consumers during the coronavirus crisis.
Credit unions continue to express frustration with the Small Business Administration, contending that they are unsure about how to solve the serious problems they are facing in implementing the popular Paycheck Protection Program.
“Unfortunately, as was expected, the compressed timeframe in which the PPP was enacted and implemented resulted in many challenges for our member credit unions in making, processing, and disbursing loans,” Lance Noggle, CUNA’s senior director of advocacy and counsel said in a letter to SBA officials. “Questions and concerns have morphed as the program is now almost 45 days old.”
As Congress decides whether to include marijuana banking provisions in the next coronavirus relief measure, advocates are raising a new issue: Cash is dirty and can spread the coronavirus.