Also: SBA clarifies compensation rules for PPP loan forgiveness; NAFCU 2020 Annual Award winners announced
NAFCU TODAY | The News You Need Daily.
August 26, 2020
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FHFA delays refinance fee after NAFCU push back [ [link removed] ]
The Federal Housing Finance Agency (FHFA) has delayed until Dec. 1, 2020, a policy change from the government-sponsored enterprises (GSEs) to impose a 0.5 percent fee on most mortgage refinance loans. NAFCU came out strong against the adverse market refinance fee when it was announced, arguing that it would hurt credit unions and their mortgage borrowers as they try to recover from the coronavirus pandemic.
Latest SBA guidance clarifies owner compensation rule applicability for PPP forgiveness [ [link removed] ]
The Small Business Administration (SBA) Monday issued an interim final rule (IFR) providing additional guidance concerning the ownership percentage of a borrower that triggers the applicability of the owner compensation rule for paycheck protection program (PPP) loan forgiveness the treatment of the employee as an owner.
NAFCU recognizes 2020 Annual Award winners for outstanding achievements [ [link removed] ]
NAFCU Tuesday announced the eight winners of its 2020 Annual Awards, which honor member credit unions and credit union professionals and volunteers for excellence and achievement in the industry. This year's awards recognized the CEO of the Year, Professional of the Year, Volunteer of the Year, and Credit Union of the Year in each of two asset-size categories: $250 million or less, and more than $250 million.
Get strategies to bolster lending amid crisis at NAFCU's Virtual Lending Conference [ [link removed] ]
As NAFCU revamps its 2020 events to virtual platforms amid the coronavirus pandemic, its upcoming Virtual Lending Conference has been designed to equip credit unions with the strategies and insights needed to maintain this vital component of cash flow to push through the crisis in as strong a position as possible.
Share feedback with the Fed via NAFCU's annual survey [ [link removed] ]
Has your credit union faced unique challenges due to the coronavirus pandemic? What other issues do you expect to address in the coming years? NAFCU is currently seeking credit union feedback on key issues, including lending and liquidity conditions, regulatory burdens, and strategic conditions.
CFPB seeks input on CARD Act's economic impact [ [link removed] ]
The CFPB Tuesday issued a request for information (RFI) related to the Credit Card Accountability Responsibility and Disclosure (CARD) Act. The RFI is part of the bureau's statutory requirement to review certain rules within 10 years of publication and their impact on small businesses.
New-home sales jump 36% from last year [ [link removed] ]
New-home sales continued to rise for the third straight month in July, up 13.9 percent from June's revised rate of 791,000 annualized units to 901,000 units – the highest level since 2006. In addition, compared to a year ago, sales were up 36.3 percent.
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