WASHINGTON–Minutes released from the Federal Reserve’s March 15 board meeting show its members contemplating two economic scenarios for the remainder of 2020
WASHINGTON—CUNA economists have provided an updated projection on the lasting impact of the coronavirus pandemic.
WASHINGTON–Five days into the $349-billion Paycheck Protection Program the federal government reported it had approved approximately 178,000 loans for businesses of 500 employees or fewer totaling about $50 billion. And that’s where the bottleneck is now being encountered.
NEW YORK–Credit unions participating in the SBA’s Paycheck Protection Program or just looking to which of their members are most at risk, may want to pay attention to two industries crucial to the U.S. economy that say they are not just being hit particularly hard by the coronavirus pandemic but also by federal rules: the restaurant and hospitality industries.
TRENTON, N.J.–Twenty-nine credit unions have signed on to participate in New Jersey Gov. Phil Murphy’s COVID-19 financial protection initiative, including mortgage payment relief.
MADDOCK, N.D.–North Star Community Credit Union has announced a $1-million bonus dividend payout to its members. The announcement comes as the credit union is also marking its 80th year anniversary.
NEWPORT BEACH, Calif.–The National Association of CUSOs (NACUSO) will host a webinar titled “Paycheck Protection Program Loans: A Panel Discussion by SBA-Certified CUSOs” on April 10. The webinar will begin at 2 p.m. ET.
ALEXANDRIA, Va.—CUNA’s Small Credit Union Committee conducted a call with NCUA Board Member Todd Harper to discuss the “unique challenges” being faced by small credit unions during the coronavirus pandemic.
WASHINGTON—The FBI has issued a new reminder that business email compromise (BEC) scams continue to a high risk to financial institutions.
CHARLOTTE, N.C.–Just days after the new federal government program was launched, a lawsuit has been filed against Bank of America for giving its loan customers a higher priority or for limiting access to the Paycheck Protection Program.
