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PORTLAND, Ore.—Providence Federal Credit Union is cutting its overdraft fees in half, with its Courtesy Pay program now charging $15 per overdraft rather than $30.

WASHINGTON—The CFPB is being urged to consider the unique challenges faced by credit unions as the Bureau revises the General QM definition.

ALEXANDRIA, Va.—Credit unions appear to still be struggling to gain approval for secondary capital plans from NCUA, a new report indicates.

WASHINGTON—In a letter to the Financial Accounting Standards Board (FASB), NAFCU President and CEO Dan Berger is offering the association's support for delaying the implementation deadline of the current expected credit loss (CECL) standard and other major standards, as doing so "will help mitigate the challenges credit unions face as they prepare to adopt" the standards.

FLINT, Mich.–Thieves who stole eight brand-new Chevrolet Silverado HD and GMC Sierra HD pickup trucks from a car dealer here also crashed one into a branch of Sovita Credit Union here as part of a robbery attempt.

WASHINGTON—As the Senate Appropriations Subcommittee on Financial Services and General Government (FSGG) considers 2020 funding, NAFCU highlighted the important role the Community Development Revolving Loan Fund (CDRLF) and the Community Development Financial Institutions (CDFI) Fund play in helping "promote access to capital and local economic growth in low-income communities."

WASHINGTON—The Federal Open Market Committee is expected to cut rates at the conclusion of its two-day policy-setting meeting, which ends today.

BRAINTREE, Mass.–Liberty Bay Credit Union has named a new CEO. The $670-million LBCU has added CEO to the title of Lyndon Matteson, who has since late 2018 been serving as president.

ALEXANDRIA, Va.—NCUA has released a supervisory letter it provided to field staff related to low-income-designated credit unions' (LICUs) ability to offer secondary capital accounts.