ICYMI:
CU leaders detail COVID-19 response, recovery expectations
Tower Federal
Credit Union President and CEO Rick Stafford, Arkansas Federal Credit Union President
and CEO Rodney Showmar, and NAFCU President and CEO Dan Berger Wednesday discussed
the impact the coronavirus has had on credit unions and their members, how institutions
have responded, and what trends they expect to see as recovery begins.
Updated
FAQS, more NAFCU resources to help CUs navigate PPP
The Small Business
Administration (SBA) and Treasury Department have updated their FAQs related to
the paycheck protection program (PPP) to clarify forgiveness for businesses that have laid off an employee.
NAFCU
networks a powerful resource for CUs amid COVID-19
NAFCU’s free,
member-only networks are designed to connect credit union professionals and decision-makers
with their peers, providing executives with a safe and straightforward space to
share valuable insights and troubleshoot problems. As the coronavirus continues
to present challenges in every community across the nation, members are finding
value in the information-sharing and training opportunities they receive while
engaging with other experts from the credit union community.
Updated FAQs: SBA Programs Under the
CARES Act
Get answers to your questions on the Small Business Administration's
Paycheck Protection Program.
Fed
launches community group for FedNow Service
The Federal Reserve has
launched a community to obtain insights from payments industry experts and stakeholders
as the Fed continues work on its instant payment offering, the FedNow Service.
NAFCU is supportive of the Fed's efforts to create a real-time gross settlement
service and has urged the Fed to expedite its creation.
DOJ charges two with PPP fraud
The Justice Department has filed its first case against two individuals following
the start of its inquiry into the Small Business Administration's (SBA) paycheck
protection program (PPP). Investigations into whether the program was protected
against fraud or if banks did not process PPP loans on a first-come, first-serve
basis as the SBA had advertised have begun to pop up after the program reopened late last month.
