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For many, the financial effects of COVID-19 are reviving ghosts of the 2008 recession that slammed the economy and shuttered some of the world's biggest banks.

ALEXANDRIA, Va.–The credit union community entered into the coronavirus pandemic in a strong position, but there is a much more challenging environment ahead than many CUs have ever faced, according to one NCUA board member.

WASHINGTON — Republican leaders in Congress are expressing initial support for some sort of “shield” to protect businesses from a wide range of lawsuits that could result from reopening a business during the coronavirus pandemic.

WASHINGTON—A Canadian company, RevenueWire, and its CEO, Roberta Leach, will pay $6.75 million to settle Federal Trade Commission charges they laundered credit card payments for, and assisted and facilitated, two tech support scams previously sued by the FTC.

MILTON, Fla.–An accounting firm here has filed a proposed class action alleging two banks, and perhaps others, violated the intent of Congress when they declined to pay agents such as itself for helping small businesses apply for loans under the SBA’s Paycheck Protection Program from the fees the government paid the banks.

HERNDON, Va.–The NWFCU Foundation recently ran a weekend meal program drive, collecting non-perishable food items to provide nourishing meals for at-promise children on weekends. 

RANCHO CUCAMONGA, Calif.– In place of the THINK 20 annual event that had been scheduled for Dallas, CO-OP Financial Services said it will host a THINK 20 Virtual event that will focus on how credit unions can set their strategy to be the financial services providers most able to help Americans in the COVID-19 economic environment.

WASHINGTON — Credit unions looking to work with Congress to make changes to the Paycheck Protection Program or to ensure CU interests are protected in any phase IV stimulus plan have a new challenge: Half of Congress isn’t returning to Washington as planned.

NEW YORK—The global economy could shrink by up to 1% in 2020 due to the COVID-19 pandemic, and may contract even further if restrictions on economic activities are extended without adequate fiscal responses, according to analysis released United Nations Department of Economic and Social Affairs (UN-DESA).