David Baumann of the Washington CU Daily reports that PPP loans are remaining on credit union balance sheets for longer than expected, causing regulatory headaches for credit union officials, according to CUNA President/CEO Jim Nussle.
As the financial health of consumers deteriorates due to the pandemic, Senate Banking Committee ranking Democrat Sherrod Brown of Ohio said he is concerned that financial services regulators, including the NCUA, are not prepared for a possible financial crisis, reports David Baumann of the Washington Credit Union Daily.
CreditUnions.com: Carla Decker, the CEO of DC Credit Union, discusses her credit union’s commitment to community and how the COVID-19 crisis has affected her certified CDFI shop.
In her second article on mobile banking during the pandemic, Barb Cooper discusses the rise in mobile banking scams, what your credit union can do to protect members, and what your members can do to protect themselves.
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?