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While the House and Senate remain working in their home districts and states this week, NAFCU's award-winning advocacy team is gearing up to keep focus on credit union priorities needed in the next round of coronavirus relief. The House previously passed its version of Phase 4 relief; the Senate is expected to begin work on its package when lawmakers return next week.

In addition, the NCUA and Small Business Administration (SBA) are hosting a webinar tomorrow for credit unions interested in learning more about the SBA's lending programs, including the paycheck protection program (PPP). It will specifically cover the PPP loan forgiveness process and other updates now that the program has been extended to Aug. 8. The webinar is part of the three-year agreement the two agencies signed last year to increase access to credit union loans to small businesses across the nation; registration is available here.

Last week, NAFCU Director of Political Affairs Chad Adams called on credit unions to join the association's advocacy using its Grassroots Action Center. There, credit unions can take action and get involved on issues, including:

• urging support for legislation that will ease the forgiveness process for PPP loans under $150,000;
• advocating for Bank Secrecy Act (BSA)/anti-money laundering (AML) reform to be included in the Senate fiscal year 2021 National Defense Authorization Act (NDAA);
• opposing banker efforts to get free leases on military bases;
• relief from the arbitrary member business lending (MBL) cap;
• granting the NCUA authority to allow longer loan maturity limits; and
• opposing proposals that could harm consumers and hinder credit unions' ability to serve members.

Read more about what NAFCU is advocating for here.

The association will also monitor some virtual House hearings this week:

• tomorrow, a House Financial Services subcommittee will examine capital markets and worker protections impacted by the coronavirus pandemic;
• Wednesday, the House Small Business Committee will meet to discuss solutions for small business recovery;
• Thursday, a House Financial Services subcommittee will hold a hearing on the oversight of mortgage servicers' implementation of the CARES Act;
• Thursday, a House Small Business subcommittee will review ways to support workforce development and small business rehiring; and
• Friday, the House Small Business Committee will get an update on pandemic lending programs from Treasury Secretary Steven Mnuchin and SBA Administrator Jovita Carranza.

Looking ahead, the Senate Banking Committee will hold a nomination hearing July 21 that will include NCUA Board nominee Kyle Hauptman. Hauptman was nominated last month by President Donald Trump to replace current Board Member J. Mark McWatters, whose term expired in August 2019.

Other events and things to note this week:

• registration for NAFCU's upcoming Virtual BSA School and Virtual Regulatory Compliance School are still open;
• today, NAFCU is offering a webinar – underwritten by CUNA Mutual Group – on strengthening credit unions' compliance culture;
• Tuesday, there's a NAFCU webinar focused on real estate collections practices and considerations amid the pandemic;
• Wednesday is the last day to submit responses to the next Economic & CU Monitor survey focused on mortgage lending;
• Thursday, a NAFCU webinar will help credit unions review strategic financial and capital planning to adapt to the crisis environment; and
• Friday is the last day to submit comments to NAFCU on the NCUA's Regulatory Review.