CUNA continued its engagment with the FCC by sending a joint letter supporting FCC’s goals of eliminating illegal automated calls but working to ensure consumers receive important, time-sensitive calls from financial institutions, healthcare providers and other legitimate entities.
CUNA supports the FinCEN updating the Paperwork Reduction Act burden estimates from complying with a BSA requirement for financial institutions to report transactions in currency of more than $10,000 using a CTR. The proposed updates change the PRA analysis for new CTR rulemakings.
Congress is out of session this week, but the House will continue to host committee meetings and CUNA will be engaged with several of them related to the pandemic, including worker protections, lending and small business recovery, as well as government appropriations.
Credit unions interested in learning more about updates to SBA lending programs, including the Paycheck Protection Program, can get information on a conference call that begins at 3 p.m. (ET) on Tuesday. The SBA recently made several updates to the program.
Credit unions recognize that financial inclusion and access to capital are critical to ensuring the survival of many of our nation’s most vulnerable small businesses, especially women- and minority-owned businesses.
CUNA joined several organizations this week calling on leadership of the House and Senate Small Business Committees to support a bill to simplify forgiveness of Paycheck Protection Program loans under $150,000.
NCUA’s latest Letter to Credit Unions (20-CU-21) announced that the agency is in the process of reinstating rural districts for credit unions that had these removed due to the American Bankers Association (ABA) lawsuit.
Credit unions facilitated tens of thousands of loans during the first round of Paycheck Protection Program (PPP) funding, according to the latest round of data released by the Small Business Administration (SBA), this week.