Will Trump Replace McWatters?

With the pandemic crisis taking up so much time and energy, it is understandable that people may forget about the everyday nuts and bolts of government.

Consider, for example, the NCUA board. The term of board member J. Mark McWatters expired in August. Sources in the credit union community said they have not heard any discussion of replacing him.

Harper: Don’t Change CU Capital Standards

Clashing with NCUA Chairman Rodney Hood, board member Todd Harper is asking Congress not to reduce credit union capital standards in response to the coronavirus crisis.

“Reductions in capital standards could ultimately lead to greater losses for the Share Insurance Fund, which all surviving federally insured credit unions would need to pay,” Harper wrote to leaders of the House and Senate committees with NCUA oversight powers.

CUNA Pushing for $1 Billion Boost for CDFIs

A coalition of supporters of the Community Development Financial Institutions program has asked Congress to set aside $1 billion for the program in the next coronavirus economic relief measure.

In a letter to congressional leaders, the groups, including CUNA, contend that federal financial relief funding is not reaching small businesses and families that are not served by mainstream lending institutions. CUNA noted that there are 324 CDFI-certified credit unions across the country.

Welcome to Washington Credit Union Daily

Hi Friends, Welcome to my new home on the Internet. The coronavirus pandemic has struck people in myriad ways. I’m more fortunate than many. I have my health. All I lost is my gig. The owners of The Credit Union Times last week furloughed all freelance writers at the company’s publications. Quite frankly, I’ve been having too much fun doing what I’ve been doing to give it up now. So, with the technical assistance of Kathleen, my wife (I could never have done it on my own), we have launched this website. Each day you will find the same coverage