Also: NAFCU-sought PPP loan forgiveness bill introduced in House; Mastercard to give insights into CUs' small biz lending
NAFCU TODAY | The News You Need Daily.
July 27, 2020
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This week: NAFCU pushes CU priorities, NCUA Board meets [ [link removed] ]
As lawmakers make progress on legislation related to the paycheck protection program (PPP) loan forgiveness process, National Defense Authorization Act (NDAA), and more, NAFCU's award-winning advocacy team will continue its efforts to keep credit union issues at the forefront as lawmakers continue to discuss Phase 4 coronavirus relief efforts. In addition, the NCUA Board will meet and is expected to address changes to field of membership (FOM) and credit unions' transition to the current expected credit loss standard.
NAFCU-supported PPP forgiveness bill introduced in the House [ [link removed] ]
NAFCU-sought legislation to streamline the Small Business Administration’s (SBA) paycheck protection (PPP) loan forgiveness process was introduced by Reps. Chrissy Houlahan, D-Penn., and Fred Upton, R-Mich., in the House following the association’s continuous call for further guidance on the PPP loan forgiveness process. The legislation, introduced Friday with 19 bipartisan cosponsors, is aimed at assisting America’s smallest businesses as they recover from the current economic crisis.
How CUs can better support business members [ [link removed] ]
Did you know 21 percent of consumer debit cards in the U.S. are used for business spending? In a webinar tomorrow, Mastercard will explore small business trends, including the impact of the coronavirus pandemic, and how credit unions can better serve business members.
New-home sales rise in June; Housing market to play critical role in supporting economy [ [link removed] ]
New-home sales rose to 776,000 units in June, up 13.6 percent from May's revised rate of 682,000 annualized units and 6.9 percent from a year ago. NAFCU Chief Economist and Vice President of Research Curt Long commented on the continued rise in a new NAFCU Macro Data Flash report.
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