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Today: NAFCU, NCUA chairman to provide important updates to CUs
Today, NCUA Chairman Rodney Hood will join NAFCU President and CEO Dan Berger on the association's Q1 Member Call-In to provide members with important agency updates. The call – set to begin at 4 p.m. Eastern – will also feature updates on the Phase 3 coronavirus relief package, the CARES Act, from Executive Vice President of Government Affairs and General Counsel Carrie Hunt and other senior staff.
The Phase 3 package includes several NAFCU-sought provisions, including flexibility for the NCUA in dealing with troubled debt restructurings (TDRs) and an adjustment to the definition of eligible institutions to ensure credit unions are eligible for new Small Business Administration (SBA) programs.
The association actively lobbied Capitol Hill and the Trump administration throughout negotiations to ensure credit unions have parity with banks in any relief provisions and that proposals that could harm the credit union industry are not included. NAFCU has a summary of the CARES Act's key provisions for credit unions available in an easy-to-read chart online.
Outside of congressional updates, members will receive a briefing on federal agencies and regulators that continue to move forward with their coronavirus relief efforts. NAFCU will explain how these measures are impacting credit unions, and what additional relief and guidance the association is continuing to fight to obtain for the industry and its 120 million members.
Several other economic, political, and regulatory updates will also be discussed.
The member-only call is free, but registration is required. Credit unions can submit questions during the registration process or live during the Q&A portion of the call.