You asked, you received. NCUA and FinCENissued guidance for credit unions and other financial institutions concerned about the effects of COVID-19. Additionally, NAFCU received some clarification from the Federal Reserve…
As Congress and the Administration respond to the coronavirus disease (COVID-19) crisis, credit unions and banks will continue to offer assistance to customers directly affected, wrote CUNA and other financial…
NAFCU President and CEO Dan Berger Monday asked President Donald Trump and National Economic Council Director Larry Kudlow to provide credit unions with additional relief and support to better serve…
After 80 years carrying the name of its original and still largest sponsor, Together Credit Union($1.8B, St. Louis, MO) has a new brand but an old hand helping ensure critical…
To:Federally Insured Credit Unions Subject:Operations Dear Board of Directors and Chief Executive Officer: The NCUA recognizes COVID-19 will impact credit unions and their members to varying degrees. I want to…
AsAmazonelevates the importance of delivering highly sought products amid the coronavirus pandemic, the eTailer said independent merchants would not be able to send merchandise to its warehouses except for household…
The coronavirus pandemic has forced the closure of an increasing number of schools, restaurants and major retailers globally, while sending workers home either because of sickness or to care for…
This weekend brought a new level of uncertainty and concern around the coronavirus (aka “COVID-19”) and its potential impact on the economy and business continuity. While our members are in…
Here at DCUC, we regularly have conversations about how to evolve, how to better serve our members, and what more we can do. Often these discussions focus on emerging technology…
NCUA issued a letter to credit unions (20-CU-02) Monday outlining the agency’s actions related to the coronavirus (COVID-19) pandemic. “The NCUA recognizes there may be other accommodations that could assist…
President Donald Trump Friday declared a national emergency in the wake of the coronavirus. Doing so opens up $50 billion of funding for states and U.S. territories to address the…
We are working daily with many institutions on strategic thinking and financial modeling focused on the pandemic and the economy. In this article, we address some general talking points we…
As concerns over the coronavirus (COVID-19) spread, credit unions have begun closing their lobbies and urging members to use alternative ways to access their accounts. LAFCU in Lansing, Mich., is…
Money can be stressful for people. The numbers don't lie. According to theNational Financial Capability Study: More than half of Americans (53%) agree that “thinking about my personal finances can…
The coronavirus wake-up call came early forBECU($22.2B, Tukwila, WA). After all, approximately half of the known U.S. deaths from the illness it causes — COVID-19 — have occurred in asingle…
A common technique among internet and email scammers is to take advantage of public concerns and fears. Today, that means that scammers are capitalizing on the fear surrounding the emergence…
As our leaders in Washington DC bicker over a fiscal response to COVID-19, mostly coming up with ideas that look to win votes (payroll tax holidays, guaranteed sick leave for…
On March 11, 2020, the World Health Organization declared the coronavirus outbreak a global pandemic. NAFCU is closely monitoring the spread of COVID-19 – the disease caused by the coronavirus…
Small Business Administration Administrator Jovita Carranza said Thursday the agency will provide up to $2 million in disaster relief loans for small businesses affected by the coronavirus disease (COVID-19). “Small…
As credit unions have reached out for guidance on various regulatory and compliance concerns during the coronavirus outbreak, NAFCU President and CEO Dan Berger sent letters to the NCUA and…
Fraudsters are leveraging fears over the coronavirus as an opportunity to scam financial institutions and consumers. Credit unions are taking steps to warn and protect their members. Wright-Patt Credit Union,…
The compliance team occasionally receives questions about when a credit union can obtain a consumer report from a credit reporting agency under the Fair Credit Reporting Act (FCRA). Section 604…
In news that probably comes as no surprise to anyone, there appears to be a national shortage of Purell®. The Philadelphia Inquirer recently reported that the popular hand sanitizer has…
In the past ten years, the country has made great strides towards economic recovery, and many millennials who entered the job and housing markets during the downturn have had a…