SBA,
Treasury update forgiveness, loan review IFRs
The Small Business Administration
(SBA) and the Treasury Department released revisions to two interim final rules
(IFR) related to the paycheck protection program (PPP): One on loan forgiveness
and the other on SBA loan review procedures. These revisions implement changes
made by the recently enacted Paycheck Protection Program Flexibility Act (H.R.
7010) and include both the recently revised, borrower-friendly PPP loan forgiveness application and the new EZ version.
Berger
unmasks bank lobbyists' anti-military proposal in American Banker op-ed
In a critical op-ed published in American Banker, NAFCU President and CEO Dan
Berger pushed back against bank lobbyists' continued calls to limit credit
unions' ability to provide financial services to consumers in need, including to military members.
FI
regulators issue examiner guidance amid COVID-19
The federal financial
institution regulators, including the NCUA, and state regulators Tuesday issued
interagency guidance directing examiners to consider how the coronavirus pandemic
has impacted institutions as they assess safety and soundness.
TOMORROW: NAFCU's State of the Industry
Get the data, trends and takeaways you need now to keep your operations
strong.
EXIM's
work with CUs noted during hearing
Export-Import Bank President Kimberly
Reed Tuesday touted recent efforts with the credit union industry, including her
recent conversation with NAFCU President and CEO Dan Berger, as the bank works
to support the U.S. economy and connect small businesses to its programs.
Berger,
in new op-ed, offers strategies for CU success post-coronavirus
NAFCU
President and CEO Dan Berger penned an op-ed in Credit Union Times encouraging
credit unions to adapt to changes in consumer behavior in light of the coronavirus
pandemic. The op-ed published in anticipation of tomorrow's virtual State of the Industry event.
CFPB:
COVID-19 loss mitigation options don't violate Reg X
The CFPB
Tuesday issued an interim final rule (IFR) amending Regulation X to clarify that
mortgage servicers do not violate the regulation's provisions by offering
certain coronavirus-related loss mitigation options based on an evaluation of
limited application information collected from the borrower. The interim final rule is effective July 1.
NAFCU
asks Congress to push FCC on TCPA concerns amid COVID-19
Ahead of today's
oversight hearing of the Federal Communications Commission (FCC), NAFCU Vice President
of Legislative Affairs Brad Thaler shared with the Senate Commerce Committee areas
under the Telephone Consumer Protection Act (TCPA) that still need to be addressed
to ensure credit unions can contact members with important financial information,
especially amid the coronavirus pandemic.
NCUA
extends MDI mentoring grant application
Credit unions that are eligible
to apply for the NCUA's minority depository institutions (MDIs) mentoring
grants may now submit applications until July 31. The NCUA announced in April
that they will offer $125,000 in mentoring grants to small, low-income credit
unions designated as MDIs to help them establish programs with larger, low-income-designated
credit unions that can provide expertise and guidance.
New-home
sales see 'strong recovery' in May
New-home sales rose to
676,000 units in May, up 16.6 percent from April's downwardly revised rate
of 580,000 units and 12.7 percent from a year ago. NAFCU Chief Economist and Vice
President of Research Curt Long commented on the "strong recovery" in a new NAFCU Macro Data Flash report.
NAFCU
announces new 2020-2021 board
NAFCU yesterday announced its 2020-2021
Board of Directors following its Annual Business Meeting at the association's headquarters in Arlington, Va.
