WASHINGTON–The Federal Reserve has announced plans to establish a facility aimed at boosting lending to small businesses via the Small Business Administration’s (SBA) Paycheck Protection Program (PPP).
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MILWAUKEE, Wis.–One corporate credit union is detailing how planning ahead has greatly assisted its work-from-home efforts, while credit unions, vendors and state governments have made a number of other announcements related to the coronavirus pandemic.
ARLINGTON, Va.—NAFCU is offering a free webinar today to help credit unions better understand the process for offering loans through the Small Business Administration's new Paycheck Protection Program (PPP).
ARLINGTON, Va.—In conjunction with the release by the Small Business Administration (SBA) of an interim final rule to implement the $349 billion Paycheck Protection Program, NAFCU has published a series of FAQs on the program and what it mean for credit unions.
POUGHKEEPSIE, N.Y.–Hudson Valley Credit Union has closed two of its branches after an employee at each facility tested positive for COVID-19.
ARLINGTON, Va.–The coronavirus pandemic and the resulting economic shutdown may have upended much of the congressional agenda this session, but both NAFCU and CUNA said there is plenty of work being done on a host of issues of importance to credit unions.
COLUMBIA, Md.–Maryland’s credit unions said they will act to supportfinancial relief initiatives announced by Gov. Larry Hogan aimed at assisting consumers affected by the economic fallout from the COVID-19 pandemic.
FAIRFAX, Va.—Apple Federal Credit Union has settled a class-action lawsuit regarding its overdraft practices. The credit union agreed to pay $2.7 million in the settlement. The news was first reported by Keith Leggett, the former senior vice president and senior economist at the ABA, on his blog.
WASHINGTON–Five federal regulatory agencies, including NCUA, have joined with state financial regulators to issue a statementcalling on mortgage servicers to work with struggling consumers affected by the coronavirus pandemic.
WASHINGTON–The Financial Crimes Enforcement Network Provides (FinCEN) has released an update to an earlier statement on complying with BSA obligations during the coronavirus pandemic.