Also: NAFCU urges consideration of CECL elimination bill; Get the latest on NAFCU's advocacy with CFPB in new post



NAFCU TODAY | The News You Need Daily.

August 13, 2020



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SBA releases more info on PPP appeals process, forgiveness FAQs [ [link removed] ]
The Small Business Administration (SBA) has issued an interim final rule (IFR) detailing the process for paycheck protection program (PPP) borrowers to appeal loan forgiveness application decisions. In addition, the agency released more FAQs related to fees, group health care benefits, and the impact of economic injury disaster loans (EIDLs) on PPP forgiveness.


NAFCU calls on lawmakers to consider CECL elimination bill [ [link removed] ]
NAFCU's Brad Thaler Wednesday asked House Financial Services Committee Chairwoman Maxine Waters, D-Calif., and Ranking Member Patrick McHenry, R-N.C., to hold a hearing to explore the impact the Financial Accounting Standard Board's (FASB) current expected credit loss (CECL) standard will have on financial institutions, particularly small credit unions, and consider committee member Blaine Luetkemeyer's, R-Mo., proposed legislation to not require compliance with the standard.


NAFCU's Schafer details the latest on CFPB rulemaking efforts [ [link removed] ]
NAFCU Regulatory Affairs Counsel Kaley Schafer is giving member credit unions an inside-look at the association's latest advocacy work with the CFPB in a new post in the NAFCU Compliance, Risk & BSA and Lending Networks. In the post, Schafer provides an update on a number of key issues, including small business lending data collection and the ability-to-repay (ATR)/qualified mortgage (QM) rule.






Today: NAFCU's Berger, NCUA's Hood, industry leaders share insights on panel discussion [ [link removed] ]
NAFCU President and CEO Dan Berger is set to join NCUA Chairman Rodney Hood, CUNA Mutual Group President and CEO Robert Trunzo, and a panel of other industry leaders today during CUNA Mutual Group’s Discovery 2020. The panel will discuss the actions they took as leaders, the stories that have inspired them, and the lessons learned as the industry has grappled with the coronavirus pandemic.


CPI continues to rise; NAFCU expects short-term rates to stay anchored at 0 [ [link removed] ]
In July, on a seasonally-adjusted basis, overall consumer prices rose 0.6 percent. The Bureau of Labor Statistics reported that the overall consumer price index (CPI) grew 1 percent over the 12-month period.



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