NCUA
efforts, small biz lending, other coronavirus issues addressed in member call
During NAFCU's Q1 Member Call-In yesterday, NCUA Chairman Rodney Hood joined
NAFCU President and CEO Dan Berger and other senior staff to provide credit unions
with an update on the agency's efforts to support credit unions and their
120 million members throughout the coronavirus pandemic while ensuring safety and soundness of the industry.
All
FICUs can lend under new SBA program, says guidance
The Treasury Department
and Small Business Administration have released information for the $349 billion
paycheck protection program included in the Phase 3 coronavirus relief package.
Treasury-issued guidance for lenders heeds NAFCU President and CEO Dan Berger's
request that all federally-insured credit unions (FICUs) be allowed to offer loans under the program.
CUs:
Access tips for cleaner payments
As Americans shift their focus to
exercising careful hygiene practices due to the coronavirus pandemic, the U.S.
Payments Forum has released new resources outlining practical tips for a "cleaner"
payment experience for merchants, ATM owners, and consumers.
Updated Compliance-Related FAQs Regarding
COVID-19
Questions on how the coronavirus pandemic impacts credit
unions are answered here
IRS
releases FAQs on economic impact payments
For those with questions
related to the economic impact payments to individuals and families that were
designated by the Phase 3 coronavirus relief package, the IRS has released FAQs
addressing eligibility, how payments will be made, and other important information.
SBA
extends express bridge loan pilot program
Today, the Small Business
Administration (SBA) released an update to its express bridge loan (EBL) pilot
program, extending the program from its original expiration date of Sept. 30,
2020, to March 13, 2021. The update also expands eligibility to include small
businesses that may be adversely impacted by the coronavirus.
