The National Credit Union Administration (NCUA) approved yesterday an interim final rule that would amend its capital adequacy and member business loans and commercial lending regulations following the creation of the Small Business Administration’s Paycheck Protection Program (PPP).
The Senate voted and approved an additional $310 billion in funds for the Paycheck Protection Program (PPP). The influx of funds contains a $60 billion set aside for community lenders, lenders that include state and federal credit unions with:
Credit Union National Association (CUNA) and the World Council of Credit Unions (WOCCU) today announced the cancellation of World Moving: A Joint Credit Union Conference, which was set to take place July 19-22 in Los Angeles, California, USA.
Credit Union National Association (CUNA) President/CEO Jim Nussle released the following statement after the Small Business Administration’s (SBA) Paycheck Protection Program (PPP), enacted to help businesses deal with the coronavirus disease (COVID-19) pandemic by providing loans so small businesses can keep their workers on the payroll, ran out of funding Thursday morning.
Reps. Brad Sherman (D-Calif.) Suzanne Bonamici (D-Ore.), Don Young (R-Alaska) and Brian Fitzpatrick (R-Pa.) today announced legislation that would exempt all credit union member business loans made during a declared disaster exempt from the member business lending cap for three years.
Today, Congressman Brad Sherman sent a letter to the Federal Reserve System seeking the temporary relief from Regulation D transfer limits. CUNA President/CEO Jim Nussle issued the following statement in response to Rep. Sherman’s letter:
Credit union compliance and HR professionals can now access a free recorded webinar that covers how to apply the new paid leave requirements established in the Families First Coronavirus Response Act (FFCRA) that went into effect April 1.
Credit Union National Association (CUNA) President/CEO Jim Nussle released the following statement after the Small Business Administration (SBA) published an Interim Final Rule Thursday, effective immediately, announcing the implementation of Sections 1102 and 1106 of the CARES Act.