U.S. Capitol Building U.S. Capitol. (Source: Shutterstock)

On Thursday, CUNA sent a letter to members of the Senate Banking, Housing and Urban Affairs Committee to ask for congressional help to improve Prompt Corrective Action (PCA) and make changes to the Central Liquidity Facility (CLF) to assist credit union members during the pandemic.

In a letter filed from CUNA to the committee, CUNA President/CEO Jim Nussle wrote, “The COVID-19 pandemic and ensuing economic crisis has impacted every aspect of society. Credit unions and their members have not been immune from the consequences, but credit unions have remained in a position to continue to serve their members through the crisis as a result of critical steps taken by Congress, the administration and the NCUA.”

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Michael Ogden

Editor-in-Chief for CU Times. To connect, email at [email protected].

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