Senate begins debate on relief package; NAFCU reiterates call to include CU tools

Ahead of the Senate’s consideration of the American Rescue Plan Act, NAFCU Vice President of Legislative Affairs Brad Thaler reiterated NAFCU’s call for several tools and flexibilities that will allow credit unions to continue to support their members and communities amid the coronavirus pandemic and beyond.

The House Saturday passed the $1.9 trillion coronavirus relief package, which includes some NAFCU-supported provisions to help small businesses survive and recover from the pandemic and provide assistance to homeowners and renters.

In the letter, sent Tuesday, Thaler highlighted several ways in which credit unions have stepped up to help their communities amid the crisis and again reiterated additional measures to support these efforts, including:

  • capital flexibility under the Federal Credit Union (FCU) Act similar to what banks were provided in the CARES Act;


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