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WASHINGTON–The Consumer Financial Protection Bureau and the Federal Housing Finance Agency have announced the Borrower Protection Program, a new joint initiative the agencies said enables CFPB and FHFA to share servicing information to “protect borrowers during the coronavirus national emergency.”

ARLINGTON, Va.—Credit union leaders’ outlook on what the future holds has fallen out of the “optimistic” range for the first time in the history of NAFCU’s  Credit Union Sentiment Index (CUSI), the trade association reported.

NEW YORK–The nation’s banks are reporting considerably smaller quarterly profits as they set aside billions in reserves to cover potential losses on consumer and business loans. The banks’ forecasts and expectations raise questions around the level of losses credit unions can expect as the coronavirus pandemic goes on.

ALEXANDRIA, Va.—In its first-ever virtual public board meeting, the NCUA board today is set to issue two rules related to appraisals: A final rule that would raise the threshold for residential real estate appraisals and an interim final rule to provide other appraisal relief.

WASHINGTON–Legislation has been introduced in Congress that would exempt all member business loans (MBLs) made during the declared coronavirus pandemic from the MBL cap for three years.

WASHINGTON–The Paycheck Protection Program needs some protection of its own, with the federal government indicating it was on track to deplete its $349-billion in funding by Wednesday night.

PORTSMOUTH, N.H.–Northeast Credit Union has launched a “Virtual Community Center” as part of its Love Your Community project. That project is designed to highlight goodness and encourage people to practice humanity in their everyday lives to build stronger, kinder communities.

SCARBOROUGH, Maine–As part of its “Local Helping Local” initiative, focused on helping and supporting those impacted by the coronavirus outbreak, Town & Country FCU provided funding for 100 meals to healthcare workers in the COVID-19 units at Maine Medical Center.

WOODBURY, Minn.–Ideal Credit Union has been named “Best Credit Union in the East Metro” for the fourth consecutive year by readers of the Stillwater Gazette newspaper.