House
set to vote on more PPP funding
Members of the House are returning
to Washington today to vote on the coronavirus relief package that includes over
$300 billion in additional funding for the Small Business Administration's
paycheck protection program (PPP). The Senate passed the package Tuesday; the
president is expected to sign the legislation after House passage.
FHFA
allows GSEs to buy mortgages in forbearance
The Federal Housing Finance
Agency (FHFA) Wednesday announced the government-sponsored enterprises (GSEs)
will be allowed to purchase single-family mortgages in forbearance that meet specific
eligibility criteria. FHFA Director Mark Calabria said purchases of "these
previously ineligible loans will help provide liquidity to mortgage markets and
allow originators to keep lending."
SBA
data breach affects thousands of EIDL applicants
A data breach of the
Small Business Administration's (SBA) online application system for Economic
Injury Disaster Loans (EIDLs) last month may have exposed the personal information
of nearly 8,000 businesses to other program applicants.
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SBA
publishes info on loan programs, fraud amid coronavirus
As Congress
continues to work on providing the Small Business Administration's (SBA)
paycheck protection program with additional funding, the SBA has released additional
guidance on the program along with notices aimed at equipping lenders with important
information as they provide relief to borrowers amid the coronavirus pandemic.
NAFCU,
CFPB discuss CU operational challenges of stimulus checks
NAFCU Wednesday
shared with the CFPB credit union concerns regarding the operational challenges
posed by handling stimulus payment checks and potential regulatory relief the
bureau could provide under Regulation CC. The Treasury Department began mailing
physical checks to stimulus payment recipients this week.
Today:
Regulators host webinar on becoming PPP lender
Federal financial regulators,
including the NCUA, are hosting a joint webinar today with the Small Business
Administration (SBA) on how to become a lender under the new paycheck protection
program (PPP). The webinar is intended for those who are not currently SBA-approved lenders.
NCUA
announces new office to promote accountability, ethical conduct
The
NCUA Wednesday announced the creation of a new Office of Ethics Counsel, which
was approved by the board during its closed meeting in March.
