Also: Reg Alert details Treasury's emergency capital program; SBA revises PPP applications for lenders, borrowers
NAFCU TODAY | The News You Need Daily.
March 22, 2021
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This week: NAFCU monitoring updates on COVID response, PPP extension [ [link removed] ]
Discussions on Capitol Hill this week will center around policymakers' response to the coronavirus pandemic, looking closely at the economic impact, small business programs and housing issues. NAFCU's award-winning advocacy team will remain engaged with lawmakers to ensure they're aware of credit unions' efforts to support their members and communities amid the crisis.
New Reg Alert outlines Treasury's emergency capital program [ [link removed] ]
In a new Regulatory Alert sent to members Friday, NAFCU detailed how the Treasury's interim final rule (IFR) to implement statutory eligibility requirements for the Emergency Capital Investment Program (ECIP) apply to credit unions. The program, established under the Consolidated Appropriations Act (CAA), will provide funds to eligible Community Development Financial Institutions (CDFIs) and minority depository institutions (MDIs) to support small businesses and consumers facing financial hardships amid the pandemic via loans, grants, and forbearance.
SBA releases new PPP application forms [ [link removed] ]
Following the issuance of an interim final rule to incorporate changes made to the paycheck protection program (PPP) by the American Rescue Plan Act, the Small Business Administration (SBA) published new application forms for borrowers and lenders.
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