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.
Add to Calendar 2021-02-26 14:00:00 2021-02-26 14:00:00 The CDFI Rapid Response Program With the recent COVID-19 relief legislation, unprecedented levels of funding are being directed to underserved communities, especially communities of color. Community Development Financial Institution (CDFI) certified credit unions have a critical role to play in deploying these funds. The CDFI Fund's Rapid Response Program (RRP) opens by February 25th, making available $1.25 billion in grants to CDFIs. This webinar will help you to prepare for the RRP and other CDFI applications. All first-time CDFI Fund grant applicants are urged to attend. Don’t miss this unique opportunity to learn more about how your credit union can tap into these resources for the benefit of the members and communities you serve. CDFI certification is an essential credential for credit unions with a focus on financial inclusion today. If you have never applied for a CDFI grant, don’t miss this critical webinar. Key Takeaways Review updated information about the RRP opportunity and application process Walk through critical first steps to complete before you apply for CDFI Fund grant Register Now For On-Demand AccessRegistration is complimentary, but you must register to attend.One registration gives your entire credit union access to the on-demand recording until February 26, 2022.Already registered? Go to the Online Training Center to view live. Who Should Attend? Chief Executive Officers (CEOs) Chief Lending Officers (CLOs) Business Lending Staff Lending Staff Education Credits This webinar doesn't qualify for any continuing education credits recognized by NAFCU or NASBA. 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
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