This
week: NAFCU pushes for PPP funding; Webinar provides Q&A with regulators
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
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
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.
FREE Webinars This Week:
Allowance for loan losses, loan modifications due to COVID-19, FFCRA, and More!
NCUA
outlines new reg relief rule for CUs
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
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.
