WASHINGTON–Some early data around the number of applications and average loan size being approved as part of the Paycheck Protection Program (PPP) have begun to emerge, but many participating lenders and businesses say much of the funding has yet to actually begin flowing.
WASHINGTON––Credit union are likely to see even more requests for assistance after the newest jobless numbers show 6.6 million Americans filing first-time unemployment claims last week, and one-third of apartment renters saying they can’t pay April’s rent.
RALEIGH, N.C. – State Employees’ Credit Union and the SECU Foundation said they are committing up to $10 million to assist with COVID-19 disaster relief efforts across North Carolina, joining other CUs in such offers recently, such as Travis Credit Unoin in California which announced a $1 million initiative of its own
WASHINGTON—Both credit union trade groups have either met with or sent a letter to the CFPB to press for additional relief for credit unions during the coronavirus pandemic.
WASHINGTON—CUNA has sent a new letter to NCUA Chairman Rodney Hood outlining potential actions the agency could take to alleviate the effects of the coronavirus pandemic on credit unions.
WASHINGTON—In response to a request from the chairman of the Senate Banking Committee, the Defense Credit Union Council has sent a letter to NCUA offering ways the agency can make statutory changes to “promote lending and mitigate the economic impact of COVID-19 for consumers and businesses.”
WASHINGTON—Total consumer credit rose 6.4% in February at a seasonally-adjusted, annualized rate – its highest level since July – and is up 4.5% from a year ago, according to the latest Federal Reserve data.
AUSTIN, Texas–The CEO of one credit union here has written an op-ed in a local media outlet making offering recommendations to the Small Business Administration on how it can improve the Paycheck Protection Program (PPP).
BAKERSFIELD, Calif.–Kern Schools FCU has officially changed its name. It is now Valley Strong Credit Union.
WASHINGTON–The Treasury Department has announced the Community Development Financial Institutions Fund (CDFI Fund) will extend the upcoming application deadlines for its the fiscal year (FY) 2020 funding round of the Community Development Financial Institutions Program (CDFI Program) and Native American CDFI Assistance Program (NACA Program).
