NCUA Chairman Todd Harper has reiterated his call for CUs not to garnish members' econimic impact payments, while the industry's largest PAC has resumed campaign contributions after a brief pause.
Lawmakers this week will continue to discuss extending the Paycheck Protection Program, and the National Credit Union Administration is scheduled to hold its monthly board meeting.
With a steady stream of Senate hearings held on the racial wealth gap and inequities in the financial system, the new chairman has set a consumer-focused agenda that leans further left than even past Democratic chairs.
The legislation would extend the Paycheck Protection Program for two months and give the Small Business Administration more time to remedy persistent system glitches that have delayed the processing of thousands of loan applications.
The American Bankers Association has requested more time to respond to a proposal that would expand lending authority for credit union service organizations.
The industry saw deposits rise by nearly 20% last year, in part due to economic stimulus measures from the government. More of the same could be coming once President Biden signs the latest stimulus bill into law.
In remarks at CUNA’s online Governmental Affairs Conference, the chairman of the National Credit Union Administration called for the creation of new initiatives around compliance for fair credit reporting and truth in lending.
