WASHINGTON–NAFCU has identified several provisions within the HEROES Act it is hopeful will be included in any future legislation related to the Paycheck Protection Program. Separately, a bank trade group has introduced a new loan campaign related to the PPP.
Fresh Today
ST. PETERSBURG, Fla.–Although down from a year ago, overall card spending by consumers has now increased over the prior week for four consecutive weeks, while debit spend is also up, according to the latest spending data released by PSCU.
WASHINGTON—The Small Business Administration (SBA) has released an application for Paycheck Protection Program (PPP) loan forgiveness and instructions for borrowers. But the agency has not released additional guidance for lenders on the loan forgiveness process.
ARLINGTON, Va. – The National Association of State Credit Union Supervisors (NASCUS) has sent a comment letter to the Small Business Administration regarding the Interim Final Rule (IFR) implementing the Paycheck Protection Program (PPP).
WASHINGTON–While Treasury and SBA have released a loan forgiveness application form for the CARES Act’s Paycheck Protection Program (PPP), the document and related instructions leave a number of outstanding issues unaddressed and, more importantly, still do not provide enough flexibility for those who receive funds, according to the American Institute of CPAs.
LAS VEGAS–CEOs at credit unions with narrower fields of membership tied to industries being hard hit by the coronavirus pandemic were profiled in the Wall Street Journal.
ARLINGTON, Va.—Catastrophic. That’s the word being used by NAFCU Chief Economist and Vice President of Research Curt Long to describe retail sales after the first full month of nationwide stay-at-home orders.
WASHINGTON—A new Financial Stability Report from the Federal Reserve has flagged the operational risks facing financial institutions as a key source of risk in the near-term, while acknowledging the "tremendous human and economic hardship" caused by the coronavirus pandemic.
SMYRNA, Tenn.–Veritas Federal Credit Union has selected L. Keeley Construction to design and construct a new headquarters facility and branch.
ONTARIO, Calif.–The California League has joined with the California Bankers Association and other organizations in a letter to Gov. Gavin Newsom raising concerns around a proposal to restructure the Department of Business Oversight (DBO) into what some have called “California’s Consumer Financial Protection Bureau.”