FOR IMMEDIATE RELEASE
July 28, 2020
Credit Union National Association (CUNA) President/CEO Jim Nussle issued the following statement on the Paycheck Protection Program forgiveness provision in the Health, Economic Assistance, Liability, and Schools (HEALS) Act:
“Ensuring that small businesses can remain focused on serving their communities, customers, and employees amid this pandemic has been a tent pole of the Paycheck Protection Program since its creation. Unfortunately, the program’s history has also shown the need for Congress to be more prescriptive in its guidance to ensure that those businesses, and the credit unions facilitating their loans, experience a rapid and streamlined process.
“As Congress continues to negotiate the next phase of this crucial program, we encourage the adoption of the bipartisan legislation introduced by Sens. Cramer, Menendez, Sinema, and Tillis, and Reps. Houlahan and Upton. In this critical hour, it’s imperative that America’s small businesses focus on keeping Main Street resilient rather than jumping through regulatory hurdles.”
Credit Union National Association (CUNA) is the only national association that advocates on behalf of all of America’s credit unions, which are owned by 115 million consumer members. CUNA, along with its network of affiliated state credit union leagues, delivers unwavering advocacy, continuous professional growth and operational confidence to protect the best interests of all credit unions. For more information about CUNA, visit cuna.org. To find your nearest credit union, visit YourMoneyFurther.com.