Newsroom
NCUA's Harper sends lawmakers new letter for CU relief
In a letter to Senate Banking Committee Chairman Mike Crapo R-Idaho, and Ranking Member Sherrod Brown, D-Ohio, NCUA Board Member Todd Harper has proposed several legislative opportunities to provide credit unions with relief during the coronavirus pandemic.
As credit unions work around the clock to assist members impacted by the pandemic and serve their communities, NAFCU is focused on ensuring they have the resources and tools needed to do so. The association will continue to work with the NCUA on efforts to provide much-needed relief.
In the letter, Harper asked the committee to consider a number of issues NAFCU has previously advocated for, including:
- relief from the member business lending (MBL) cap;
- allowing all federal credit union charter types to add underserved areas to their field of membership;
- temporary changes and increased flexibilities to the NCUA's Central Liquidity Facility (CLF) under the CARES Act permanent or extending the provisions to December 31, 2021;
- clarification on issues related to the distribution of economic impact payments; and
- increased funding for the agency's Community Development Revolving Loan Funding (CDRLF) for emergency grants.
"These proposals will better equip the NCUA to both contain the pandemic’s economic impact on credit union members and the credit union system, and also protect consumers," wrote Harper. He also included requests to provide the NCUA with vendor authority.
NAFCU has remained in close contact with the NCUA during the coronavirus pandemic, and has recently spoken with Chairman Rodney Hood, and Board Members Harper and J. Mark McWatters. To see all NAFCU's coronavirus-related advocacy and resources so far, visit its dedicated coronavirus page.
Share This
Related Resources
Add to Calendar 2024-06-26 14:00:00 2024-06-26 14:00:00 Gallagher Executive Compensation and Benefits Survey About the Webinar The webinar will share trends in executive pay increases, annual bonuses, and nonqualified benefit plans. Learn how to use the data charts as well as make this data actionable in order to improve your retention strategy. You’ll hear directly from the survey project manager on how to maximize the data points to gain a competitive edge in the market. Key findings on: Total compensation by asset size Nonqualified benefit plans Bonus targets and metrics Prerequisites Demographics Board expenses Watch On-Demand Web NAFCU digital@nafcu.org America/New_York public
Gallagher Executive Compensation and Benefits Survey
preferred partner
Gallagher
Webinar
Add to Calendar 2024-06-21 09:00:00 2024-06-21 09:00:00 2024 Mid-Year Fraud Review Listen On: Key Takeaways: [01:16] Check fraud continues to be rampant across the country. Card fraud is affecting everyone. [04:31] Counterfeit US passport cards are just another new toolbox in the bad actors’ toolbox. [07:21] Blocking the fallback is the only way to defeat counterfeit cards. [11:17] The best way is constant education to your members in as many channels as you can. [13:02] We are still seeing overdraft lawsuits. Make sure the programming you have at your credit union matches what you have displayed for the members. Web NAFCU digital@nafcu.org America/New_York public
2024 Mid-Year Fraud Review
Strategy & Growth, Consumer Lending
preferred partner
Allied Solutions
Podcast
Add to Calendar 2024-06-21 09:00:00 2024-06-21 09:00:00 The Evolving Role of the CISO in Credit Unions Listen On: Key Takeaways: [01:30] Being able to properly implement risk management decisions, especially in the cyber age we live in, is incredibly important so CISOs have a lot of challenges here. [02:27] Having a leader who can really communicate cyber risks and understand how ready that institution is to deal with cyber events is incredibly important. [05:36] We need to be talking about risk openly. We need to be documenting and really understanding what remediating risk looks like and how you do that strategically. [16:38] Governance, risk, compliance, and adherence to regulatory controls are all being looked at much more closely. You are also seeing other technology that is coming into the fold directly responsible for helping CISOs navigate those waters. [18:28] The reaction from the governing bodies is directly related to the needs of the position. They’re trying to help make sure that we are positioned in a way that gets us the most possibility of success, maturing our postures and protecting the institutions. Web NAFCU digital@nafcu.org America/New_York public
The Evolving Role of the CISO in Credit Unions
preferred partner
DefenseStorm
Podcast
Get daily updates.
Subscribe to NAFCU today.