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WASHINGTON– The Federal Reserve is proposing to pump as much as $1.5 trillion in short-term loans into the economy in an attempt to limit the damage from the coronavirus.

ARLINGTON, Va.—Forecasting the effect of the coronavirus COVID-19 on the economy and credit unions, a pair of economists is urging CUs to recognize net interest margins will be under new pressures, and “knee-jerk reactions” need to be avoided. Indeed, the best strategy, said one person, will be for CUs to get back to their roots.”

WASHINGTON–Harland Clarke is now live with a rebranded suite of engagement tools, including a checking option that makes the member’s first check payable to them to incent certain behaviors, such as signing up for a credit union’s mobile app. 

WASHINGTON—In response to the COVID-19 pandemic and its effect on members and credit union operations, NAFCU President and CEO Dan Berger has sent letters to NCUA and the CFPB calling for broad flexibility with compliance for at least 60 days.

WASHINGTON–Rep. Blaine Luetkemeyer (R-MO) has introduced a pair of bills that would affect credit unions: the first would temporarily prohibit federal financial regulators from requiring compliance with the CECL rule by persons impacted by the coronavirus, and a second would change the leadership structure of the CFPB from a single person to a five-person panel.

ALEXANDRIA, Va.–In the wake of risks related to the COVID-19 pandemic, NCUA is making a number of changes to protect the “health and safety” of its examiners.