{"id":"SEC-13-006","kind":"order","level":"federal","jurisdiction":"United States","state":"","metro":"","industry":"13","agency":"","eco":"","issuer":"National Credit Union Administration (Chairman Rodney E. Hood)","authority":"Letter to Credit Unions (supervisory guidance); Federal Credit Union Act","instrument":"Letter to Credit Unions 20-CU-02","title":"NCUA Actions Related to COVID-19","dateIssued":"2020-03-16","effective":"2020-03-16","end":"n/a","startDate":"2020-03-16","endDate":"2021-09-30","quarters":["2020Q2","2020Q3","2020Q4","2021Q1","2021Q2","2021Q3"],"types":["OTHER"],"addressees":["federally insured credit unions"],"clause":"The NCUA encourages credit unions to work with affected borrowers... [including] Waiving automated teller machine (ATM) fees; Increasing ATM daily cash withdrawal limits; Waiving overdraft fees... Offering payment accommodations, such as allowing borrowers to defer or skip some payments, or extending the payment due dates... The NCUA emphasizes that prudent efforts to adjust or alter terms on existing loans in affected areas will not be subject to examiner criticism.... The FAQ outlines various options credit unions have, such as delaying annual meetings and how board meetings can be conducted.","enforcement":"Supervisory; guidance","functions":["SV","AT","CL","MK (annual meetings)","OP"],"notes":"The attached FAQ addressed delayed annual meetings, virtual board meetings and branch operating status.","sourceUrl":"https://ncua.gov/regulation-supervision/letters-credit-unions-other-guidance/ncua-actions-related-covid-19","snapshot":"http://web.archive.org/web/20200320151905/https://www.ncua.gov/regulation-supervision/letters-credit-unions-other-guidance/ncua-actions-related-covid-19","fileExists":true,"fileBytes":70012,"grade":"primary","character":"","description":"","collection":"SEC-13","url":"/library/SEC-13-006","exhibitUrl":"/exhibit/SEC-13-006","citation":"National Credit Union Administration (Chairman Rodney E. Hood), Letter to Credit Unions 20-CU-02 (Mar. 16, 2020) (Ex. SEC-13-006)","stateName":"","related":[]}