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WASHINGTON–The Federal Reserve Board has announced an expansion of its  Main Street Lending Program, while also saying it recognizes the critical role that nonprofit organizations play throughout the economy and is “evaluating a separate approach to meet their unique needs.”

ALEXANDRIA– NCUA issued one prohibition notice in April, while its Inspector General has sent a letter saying none of its programs are at risk of “significant” improper payment.

WASHINGTON—The Consumer Financial Protection Bureau  issued an interpretive rule clarifying that consumers can exercise their rights to modify or waive certain required waiting periods under the TILA-RESPA Integrated Disclosure Rule and Regulation Z rescission rules.

TREVOSE, Penn.—After the significant problems and glitches lenders experienced with the first round of the Small Business Administration’s (SBA) Paycheck Protection Program, business lending experts say round two—thankfully—is an improvement—sort of.

The financial crisis credit unions now find themselves in the middle of has been compared to the mortgage lending debacle of 2008 that caused the failure of numerous corporate credit unions and threatened thousands of natural-person CUs.

WASHINGTON—Credit unions are being urged to be aware of two new updates related to the Paycheck Protection Program. The Small Business Administration (SBA) released two interim final rules clarifying disbursements and seasonal employees under the PPP.

PEWAUKEE, Wis.–Consumer adoption of mobile payments is up significantly, and it appears the coronavirus pandemic and stay-at-home orders are the major drivers, according to new research.

EDINBURGH, Scotland—The Scottish government has released two new funding programs to help the country’s credit unions during the coronavirus crisis. 

HUDSON VALLEY, N.Y.–Mid-Hudson Valley Federal Credit Union (MHV) has pledged $30,000 to local organizations throughout the Hudson Valley to bolster pandemic relief efforts.