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WASHINGTON–A bipartisan group of members of the House Financial Services Committee has come under scrutiny for pressing the Federal Reserve to extend an emergency loan program to payday lenders.

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.

KINGSTON, Jamaica–With credit unions holding 65% market share in the Caribbean, many in the region have turned to their CUs for support during the COVID-19 pandemic, which led to a webinar titled “Credit Unions & COVID-19: The Regional Response.”

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.”

TYSONS, Va.– PenFed Credit Union said it has welcomed its two-millionth member, and to mark the milestone it is donating more than $2 million in 2020 to charities supporting the communities it serves and to the PenFed Foundation, which supports military families.

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.

MADISON, Wis.–The World Council of Credit Unions will host a webinar today titled, “Global Economic Impact of COVID-19 on Credit Unions and Related Accounting Issues.”

SMYRNA, Tenn.–Veritas Federal Credit Union has selected L. Keeley Construction to design and construct a new headquarters facility and branch.

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–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.