SBA
releases more info on PPP appeals process, forgiveness FAQs
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
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
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.
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Today:
NAFCU's Berger, NCUA's Hood, industry leaders share insights on panel discussion
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
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.
