NAFCU-sought
bill on automatic forgiveness of PPP loans introduced in Senate
Yesterday,
a bipartisan group of senators introduced the Paycheck Protection Small Business
Forgiveness Act to provide a simplified automatic forgiveness process for covered
paycheck protection program (PPP) loans of less than $150,000. NAFCU has actively
sought this automatic forgiveness of small dollar PPP loans for the benefit of
both small businesses and credit unions that are recovering from the coronavirus
pandemic and may have strained financial and human resources. The bill was introduced
by Senators Kevin Cramer, R-N.D., Kyrsten Sinema, D-Ariz., Thom Tillis, R-N.C., and Robert Menendez, D-N.J.
ECU
Monitor: CARES Act support helped delinquency conditions remain stable
The June edition of NAFCU's Economic & CU Monitor report – now available
for download – found that fiscal support from the CARES Act may have helped
keep delinquency conditions stable in spite of high unemployment rates.
NAFCU
outlines relief opportunities as lawmakers review Fed, Treasury COVID-19 response
Ahead of yesterday's House Financial Services Committee hearing with Treasury
Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell, NAFCU Vice
President of Legislative Affairs Brad Thaler thanked Congress and the agencies
for their efforts thus far to support credit unions and consumers during the coronavirus
pandemic and highlighted additional opportunities to provide more relief.
2020 Partner
Innovation Spotlight - July 8
Join Dan Berger, Randy Salser, and
other industry leaders for the latest products and services helping CUs thrive
today.
NAFCU
reiterates call for GLBA exemption to ULC's data privacy law
NAFCU
and several other organizations Tuesday sent additional comments to the Uniform
Law Commission (ULC) on its updated draft of the proposed Collection and Use of
Personally Identifiable Data Act reiterating that the drafting committee should
include an exemption for Gramm-Leach-Bliley Act (GLBA)-covered financial institutions.
NCUA
bans 1 from future work in FIs
The NCUA in June issued one prohibition
order, prohibiting an individual previously associated with a credit union from
any future participation in the affairs of a federally-insured financial institution.
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