WASHINGTON–House Democrats have introduced a massive $3 trillion piece of stimulus legislation, the HEROES Act, that includes $1 billion for the CDFI fund, additional direct payments to Americans of up to $6,000 per household, and broad mortgage forbearance requirements.
WASHINGTON–Four financial regulators, including NCUA, were pressed by members of the Senate Banking Committee during a hearing to address a range of issues, including how much debt the Fed is taking on, how TDRs are being treated, and whether a planned overhaul of CRA rules will actually hurt low-income communities.
WASHINGTON–Prior to a Senate Banking Committee hearing on oversight of financial regulators, both CUNA and NAFCU sent comment letters outlining additional policy changes both groups want NCUA to make.
WASHINGTON–Financial institutions have been critical to numerous coronavirus pandemic-related relief programs from the federal government, but now some are pushing to exclude those same institutions as the distribution channels for future payments.
SAN FRANCISCO–The Money Anxiety Index skyrocketed 30.2 points in April as Americans showed their increasing concerns about their finances as the COVID-19 crisis continues.
WASHINGTON—Treasury Secretary Steven Mnuchin said an effort is underway to make repairs to the Paycheck Protection Program that would help restaurants and others participate in the $660 billion program.
SCOTTSDALE, Ariz.–There’s a looming “Paycheck Protection Program (PPP) nightmare” ahead, according to at least one person.
WASHINGTON—During round two of the Small Business Administration's (SBA) paycheck protection program's (PPP) funding, more than $6 billion has gone to loans submitted by Minority Depository Institutions (MDIs) and Community Development Financial Institutions (CDFIs), according to new data released by the agency, detailing approved loans from April 27 to May 8.
RANCHO-CUCAMONGA, Calif.—Consumer spending across credit and debit continued to fluctuate throughout April, according to CO-OP Financial Services, which detailed recent consumer spending activity—and listed three payment trends to watch.
SUMMERVILLE, S.C.–Heritage Trust Federal Credit Union has changed its name and also announced changes in its branches. The $645-million CU is now REV Federal Credit Union.
