WASHINGTON–With the Republican National Convention taking place this week, Capitol Hill is expected to be relatively quiet.
CUNA said it is using the break to continue to advocate for certain provisions to be included in the next package of coronavirus-related relief legislation, while also continuing its call for a delay in a new fee from Fannie Mae and Freddie Mac on refinanced mortgages.
Ryan Donovan, CUNA’s chief advocacy officer, said the trade group remains in discussions on the next round of COVID relief, and wants to see an extension of CARES Act provisions related to troubled debt restructurings, expanded CLF authorities, and more.
“We are working with both sides of aisle to expedite PPP forgiveness for small biz borrowers, liability protection, and funding for state and local governments,” said Donovan.
He added CUNA also continues to talk to leaders in Congress and at NCUA about greater capital flexibility.
Donovan said he believes a package of stimulus/relief legislation will start to come together in Congress in September.
Delay Sought
Separately, Donovan said CUNA continues to have “significant concern” over plans by the Federal Housing Finance Authority, which oversees Fannie Mae and Freddie Mac, to impose an adverse market fee of 50 basis points on refinancings beginning Sept. 1.
Donovan said CUNA is working with numerous other groups in calling for the fee to be withdrawn. CUNA CEO Jim Nussle has also spoken with FHFA Director Mark Calabria about the issue.