NAFCU voices support for CDFIs, MDIs ahead of HFSC hearing
NAFCU Vice President of Legislative Affairs Brad Thaler sent a letter to the House Financial Services Subcommittee on Consumer Protection and Financial Institutions reiterating the important role community development financial institutions (CDFIs) and minority depository institutions (MDIs) play in supporting underserved communities and small businesses.
Thaler sent the letter ahead of today's subcommittee hearing, “Promoting Inclusive Lending During the Pandemic: Community Financial Institutions and Minority Depository Institutions,” which is slated to begin at 12 p.m. Eastern and will be livestreamed.
In the letter, Thaler voiced support for the subcommittee’s efforts to strengthen CDFIs and MDIs, specifically highlighting the subcommittee’s legislative efforts ensuring that these institutions have the resources they need to serve their communities. He called for increased funding for the NCUA’s community development revolving loan fund (CDRLF) program, as well as measures to make it easier for credit unions to become a CDFI.
In addition, Thaler reiterated NAFCU’s call to Congress to continue to set aside funds for the Small Business Administration’s (SBA) paycheck protection program (PPP) for community financial institutions, as well as the consideration of additional set asides for CDFIs and MDIs specifically.
NAFCU will continue working with lawmakers to address credit unions' concerns and provide more relief to the industry and will keep credit unions informed of the latest developments.
Add to Calendar 2021-01-22 14:00:00 2021-01-22 14:00:00 Paycheck Protection Program - What Credit Unions Need to Know About Round 3 This webinar will provide a detailed overview of all of the changes to the Paycheck Protection Program (PPP) as a result of the Economic Aid Act and the two new interim final rules issued by the Small Business Administration (SBA) on January 6, 2020. We will discuss key issues to consider when originating first time and second draw PPP loans, as well as the corresponding lender obligations. There will also be a discussion on how to handle requests to increase existing PPP loans as a result in changes to the rules and how to properly document loan increases. Finally, there will be a brief Q&A session at the end so that you can pose your most pressing questions. Key Takeaways Review changes to the PPP rules Discuss Second Draw PPP Loans Understand PPP Loan Increases Register NowRegistration is complimentary, but you must register to attend.One registration gives your entire credit union access to the on-demand recording until January 22, 2022.Already registered? Go to the Online Training Center to view live. Who Should Attend? NAFCU Certified Risk Managers (NCRMs) NAFCU Certified Compliance Officers (NCCOs) Presidents and Chief Executive Officers Chief Lending Officers Chief Financial Officers Lending and finance staff Risk titles Compliance and risk staff Education Credits NCRMs will receive 1.5 CEUs for participating in this webinar. NCCOs will receive 1.5 CEUs for participating in this webinar. CPA credit information is below; recommended 1.5 CPE credits. CPA Certification Credit Information Reviewer: Josie Collins, Associate Director of Education, NAFCU Learning Objectives: Review changes to the PPP rules. Discuss Second Draw PPP Loans. Understand PPP Loan Increases. Program Level: Basic Prerequisites Needed: None Advance Preparation Needed: None Delivery Method: Group Internet-Based Recommended CPE Credits: 1.5 credits Recommended Field of Study: Regulatory Ethics National Association of Federal Credit Unions (NAFCU) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. Learn more. About Our Webinars Our webinars are streamed live from NAFCU headquarters near Washington, D.C. Your audio/video feed of the presenters includes presentation slides and downloadable handouts. You can easily submit your questions to the presenters at any time during the live broadcast, with no dialing over the phone! The audio and video stream directly through your computer. Web NAFCU email@example.com America/New_York public
Credits: NCRM, NCCO, CPE
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