NAFCU
grassroots advocacy rallies Hill support for MBL relief
NAFCU and its
member credit unions' grassroots advocacy efforts have led to more than 60
members of Congress calling for the next coronavirus relief package to include
specific relief for credit unions under the member business lending (MBL) cap.
In
a win for CUs, NCUA adds more reg relief
The NCUA Board during its
meeting yesterday approved some rules to provide credit unions with regulatory
relief related to appraisals and ensuring credit unions remain operational and liquid amid the coronavirus pandemic.
Berger
to SBA: CUs need more PPP guidance
NAFCU President and CEO Dan Berger,
in a letter Thursday to Small Business Administration (SBA) Administrator Jovita
Carranza, asked the agency to continue to approve lender portal access during
this time and to provide additional guidance on loan forgiveness for its paycheck
protection program as he stressed "the importance of ensuring that the opportunity
to assist small business members during this uncertain time is available to all credit unions."
FAQs:
SBA Programs Under the CARES Act
Questions on the Small Business
Administration's Paycheck Protection Program are answered here.
Berger
calls on Congress to act fast on additional PPP funding
Yesterday,
the Small Business Administration (SBA) announced that all of the original $349
billion in funding for its paycheck protection program (PPP) had been fully allocated.
As the industry's Washington Watchdog, NAFCU has been committed to ensuring
credit unions have all the resources needed to effectively participate in the
program since its launch and will continue to advocate for further funding for the program.
4
things to know on coronavirus
NAFCU's widely-read NAFCU Today
is credit union leaders' go-to source for the latest on issues impacting
the credit union industry. For those short on time, here's a roundup of this
week's top need-to-know updates and resources related to the coronavirus pandemic.
New
on the Compliance Blog: Stimulus payment FAQs, info on appraisals, resources for CUs serving businesses
NAFCU's award-winning Compliance Team is working around the clock to publish
new Compliance Blog posts daily, Monday-Friday, to keep credit unions informed
of important regulatory updates during the coronavirus pandemic. Here is a roundup of this week's blog posts.
CFPB
finalizes increased HMDA data reporting thresholds
The CFPB Thursday
issued its final rule to raise the data reporting thresholds under the Home Mortgage
Disclosure Act (HMDA). NAFCU has flagged for the bureau credit unions' high
compliance cost of HMDA reporting and, while it is supportive of the increased
thresholds, had recommended even higher thresholds to provide more regulatory relief.
