DALLAS–Credit unions and CU organizations across the country have closed offices or announced limited hours as the result of a winter storm and record cold that has led to widespread power outages, dangerous travel and other threats.
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ARLINGTON, Va.—Additional guidance is needed by credit unions as they begin to process applications and address tax implications related to first draw and second draw Paycheck Protection Program (PPP) loans, NAFCU told the Small Business Administration in a comment letters.
ST. PETERSBURG, Fla.–The sixth week of 2021 was “strong” for debit and credit card purchases by credit union members, according to the latest analysis released by PSCU.
WASHINGTON–Several new prosecutions related to fraud against the Paycheck Protection Program have been announced, including one high-profile case in which funds were used to buy a $300,000 Lamborghini.
WASHINGTON—The 117th Congress has officially named chairs and ranking members for its committees.
RANCHO CUCAMONGA, Calif. – THINK, the innovation and content platform for credit unions from CO-OP Financial Services, will kick off its 2021 virtual series on April 13. The company said the THINK series will continue the momentum begun in 2020 when nearly 5,000 credit union leaders attended nine different events.
WASHINGTON–Citing the ongoing COVID-19 crisis, the U.S. Department of Agriculture has announced the temporary suspension of past-due debt collections and foreclosures for distressed borrowers under the Farm Storage Facility Loan and the Direct Farm Loan programs administered by the Farm Service Agency.
ALEXANDRIA, Va.—As the NCUA considers a proposed rule to remove the 45-day limit in its requirements for an overdraft policy in the agency's lending rule, NAFCU offered the association's support, stating, "Replacing this timeframe with a credit union-determined timeline that is reasonable and consistently applied as this will provide credit unions with appropriate flexibility to assist their members."
ALEXANDRIA, Va.—NCUA’s latest Regulatory Alert (21-RA-03) offering a reminder that credit unions subject to Home Mortgage Disclosure Act (HMDA) requirements in calendar year 2020 must submit loan/application register data to the Consumer Financial Protection Bureau by March 1.
WASHINGTON–The Federal Reserve has released hypothetical scenarios for 2021 bank stress tests as required under the Dodd-Frank Act, saying tests will be required of 19 large banks, with 14 others having until April 5 to opt into the stress testing should they wish to do so.