Also: Bipartisan CU MBL relief bill introduced; NAFCU, FHFA discuss CUs' forbearance concerns
NAFCU TODAY | The News You Need Daily.
April 20, 2020
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This week: NAFCU pushes for PPP funding; Webinar provides Q&A with regulators [ [link removed] ]
The Senate holds another pro-forma session today during which may consider additional funding for the Small Business Administration's paycheck protection program (PPP). The program's original $349 billion was depleted last week, and NAFCU continues to urge Congress to swiftly provide more funds to ensure credit unions can loan to small businesses in need.
Bipartisan MBL relief bill introduced in House [ [link removed] ]
Rep. Brad Sherman, D-Calif., officially introduced legislation Friday that would provide a three-year exemption from the credit union member business lending (MBL) cap for loans made to small businesses as they recover from coronavirus national emergency.
NAFCU discusses forbearances, CU concerns with FHFA [ [link removed] ]
Members of NAFCU's Regulatory Affairs team Friday shared credit union concerns and issues related to mortgage forbearances with the Federal Housing Finance Agency (FHFA), and asked for additional guidance on some provisions of the CARES Act.
NCUA outlines new reg relief rule for CUs [ [link removed] ]
The NCUA Friday provided more information on its temporary regulatory relief rule in a Letter to Credit Unions. The rule, approved unanimously during Thursday’s NCUA Board meeting, will take effect once published in the Federal Register and will expire Dec. 31, 2020, unless extended.
Hunt talks coronavirus advocacy, PPP funding on CUbroadcast [ [link removed] ]
NAFCU Executive Vice President of Government Affairs and General Counsel Carrie Hunt joined CUbroadcast last week to discuss coronavirus relief legislation and the association's advocacy efforts.
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