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SAN JOSE, Calif.—Venmo has announced the launch of the Venmo Credit Card, issued by Synchrony and backed by Visa.

WASHINGTON—The Small Business Administration (SBA) and Treasury Department have released a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans under $50,000.

AUGUSTA, Maine–Two Maine credit unions are looking to merge.

WASHINGTON—Comments on NCUA’s current expected credit loss (CECL) proposal are among several comment deadlines for credit unions during October.

BURBANK, Calif. — Disney’s announcement it will be laying off nearly 30,000 workers reveals just how deeply the COVID-19 recession is affecting the country, according to the credit union that serves those workers and which has been working to provide relief.

NEW YORK–Taxi-medallion owners driving cabs in this city continue to protest terms of their loans and call for financial relief, even as the city and the company that bought a huge portfolio of medallion loans from NCUA have indicated little relief will be forthcoming.

HARRISBURG, Penn.–To assist students in managing their finances, PSECU and Edinboro University partnered to host eight virtual financial education seminars as part of the university’s First-Year Experience (FYE) Common Hour.

WASHINGTON—NAFCU has joined with dozens of other organizations in urging leaders of the Senate and House Armed Services Committees to include Bank Secrecy Act (BSA)/anti-money laundering (AML) and beneficial ownership reforms in the fiscal year 2021 National Defense Authorization Act (NDAA).

SMYRNA, Tenn.–Ascend FCU has opened a new branch here.  The state-of-the-art building, located at 769 Nissan Drive, replaces the original structure and is the third branch opening this year, bringing to  28 the total of full-service financial centers throughout Middle Tennessee, with six located in Rutherford County. 

The full-service branch offers checking, savings, money market and certificate of deposit accounts. Other products include mortgage, auto and recreational loans, credit cards, signature loans, signature line of credit loans and business accounts and loans. It also features six interactive teller machines (ITM), where a service representative is available via video to provide a full suite of services. 

“We are so thankful to members and community partners throughout Rutherford County for their patience as we razed our old Smyrna branch and constructed a new financial center in its place,” said Ascend President and CEO Caren Gabriel. “The bright, beautiful new building offers the latest technology, along with an expansive and inviting customer service experience.”

Three ITMs are available inside the building during lobby hours. Three drive-up ITMs are also available with extended hours of 7 a.m. to 7 p.m. Monday through Saturday. Plus, outdoor ITMs can be used as ATMs around-the-clock to make withdrawals, deposits and balance inquiries. The branch also has a CoinStar machine and night-drop capabilities. 

ARLINGTON, Va.—Total consumer credit fell 2.1% in August (seasonally adjusted, annualized) after two months of solid gains.