Berger
to Fed: Clarify Reg D limit removal is permanent
NAFCU President and
CEO Dan Berger Monday wrote to the Federal Reserve Board of Governors asking for
clarification on whether the recent interim final rule that eliminates the six-per-month
transaction limit between savings and checking accounts under Regulation D is permanent.
Berger
discusses CU concerns, priorities with NCUA Chairman Hood
NAFCU President
and CEO Dan Berger and NCUA Chairman Rodney Hood Monday discussed credit union
concerns and priorities on a number of issues, including the Small Business Administration's
(SBA) paycheck protection program (PPP), exam and capital relief, and funding
for Community Development Financial Institutions (CDFI) and the Community Development Revolving Loan Fund (CDRLF).
Reg
D, CC concerns focus of NAFCU, CFPB call
NAFCU Monday discussed with
the CFPB the Federal Reserve's recent interim final rule that eliminates
the six-per-month transaction limit between savings and checking accounts under
Regulation D and credit unions' concerns regarding how this change could impact Regulation CC compliance.
Updated
FAQs: SBA Programs Under the CARES Act
Get answers to your questions
on the Small Business Administration's Paycheck Protection Program.
IRS
notice says tax deductions not allowed for PPP loans
The IRS Friday
released a notice clarifying that businesses that receive a loan through the paycheck
protection program (PPP) created by the CARES Act cannot deduct otherwise tax-deductible
expenses if the payment of the expense results in forgiveness of a covered PPP loan.
Vehicle
sales fall to lowest number since 1976
Total vehicle sales continued
to plummet in April, falling to 8.6 million annualized units. Monthly sales levels
were down 47.8 percent versus April 2019 and hit the lowest number on record since
January 1976 when the Commerce Department began recording data series.
