The Senate is expected to vote on funding for the federal government past Sept. 30 this week, and CUNA will be engaged with several hearings as well, including ones on fintech regulation and one with the SBA inspector general.
Credit unions are concerned PPP loan forgiveness process is overly complicated, CUNA wrote to a House Small Business subcommittee Friday. The letter follows two others on the importance of PPP forgiveness sent by CUNA to Congress this week.
CUNA’s latest Economic Update video features Senior Economist Jordan van Rijn examining the latest on the economy, what to expect from the recovery, how long the recovery might take, updated credit union operations forecast and more.
Changes to regulations and the creation of new lending programs have and will continue to help individuals affected by the pandemic, including PPP forgiveness legislation, temporarily lifting the MBL cap and expanding CLF and TDR changes until the end of 2021.
The Small Business Administration should take several additional steps if Paycheck Protection Program funding becomes available again, including improving national and regional operations in order to provide more timely feedback to lenders and borrowers.
CUNA and Credit Union Legislative Action Council, its federal PAC, launched its first round of general election advertising this week in support of Sens Susan Collins (R-Maine), Steve Daines (R-Mont.), Gary Peters (D-Mich.) and Tina Smith (D-Minn.).
The House voted to pass two CUNA-supported pieces of legislation, The Ensuring Diversity in Community Banking Act of 2019 and the COVID-19 Fraud Prevention Act. CUNA sent a letter of support to House leaders earlier this week in support of the bills.
CUNA supports SAFE DATA Act introduced Wednesday, which would simplify privacy and data security laws by a creating national standard which would add protections for all Americans while reducing compliance burdens stemming from many standards across the states.
The House passed a Continuing Resolution Tuesday that would fund the federal government through Dec. 11. Current funding is scheduled to expire Sept. 30. The resolution also extends funding for the National Flood Insurance Program through Sept. 30, 2021.