David Baumann of the Washington CU Daily reports on credit union trade groups who are renewing their call for Congress to lift the credit union Member Business Lending cap, saying the limit is an arbitrary restriction that keeps financial institutions from providing crucial assistance during the coronavirus economic crisis.
Those in the credit union industry used to wonder if phone banking was on its way out, but now thanks to COVID-19, it’s more essential than ever. Sarah Ashby analyzes this change and ponders how this will impact the future of phone banking.
Washington Credit Union Daily’s David Baumann reports on Federal Housing Finance Agency Director Mark Calabria who again defended the agency’s plan to charge a new 0.5% fee on refinancing of Freddie Mac and Fannie Mae mortgages, telling Credit Union National Association President/CEO Jim Nussle that, “This fee is necessary to keep people in their homes during the pandemic.”
Event planner Stephanie Underwood ponders what role, if any, virtual events will have in post-pandemic world. Will the industry easily revert to old practices or has it been forever changed?
David Baumann reports on Kyle Hauptman’s statements and answers to the Senate Banking Committee, including opinions on credit unions’ status as MDIs, overdraft policies, and virtual examinations.
Credit unions facing an economic downturn need to avoid being swayed by the doomsayers, says Chip Filson. The most important thing for credit unions is in how they respond.