WASHINGTON–A massive stimulus package of nearly $2-trillion and which would include payments to most Americans as part of the response to the coronavirus pandemic stalled in the Senate late on Sunday after Democrats blocked the deal.
Fresh Today
COLORADO SPRINGS, Colo.–Numerous credit unions are announcing emergency loans and assistance to members affected by the coronavirus pandemic, including Ent Credit Union, which has cut its overdraft/NSF fee to just a penny.
WASHINGTON – The National Restaurant Association is asking Congress to mandate reduced credit card interchange fees, “expanding upon the Durbin Amendment under the Dodd-Frank legislation.”
WASHINGTON—Six financial regulatory agencies, including NCUA, have issued a joint statement encouraging financial institutions to work “constructively” with borrowers affected by COVID-19, and have further provided additional information regarding loan modifications.
WASHINGTON– President Trump announced the administration will allow federal student loan borrowers to suspend their payments without penalty for at least 60 days.
NEW YORK–One JPMorgan Chase economist is arguing against direct payments to Americans by the federal government as a response to job losses resulting from the coronavirus pandemic, and instead saying funds should be distributed through the banking system.
WASHINGTON—NAFCU has launched a new set of Frequently Asked Questions (FAQs) around specific issues related to the coronavirus.
BOULDER, Colo.–Elevations Credit Union has announced it will match up to $250,000 funds raised as part of its foundation’s COVID-19 Relief Fund. Separately, one CU vendor is offering 10,000 free seat licenses for CUs to meet with members via video.
WASHINGTON—Amid concerns about the financial impact of the coronavirus outbreak, the CFPB is detailing how consumers can best protect themselves.
WASHINGTON–Banking regulators said they will offer banks extra Community Reinvestment Act (CRA) credit for lending to lower-income Americans affected by the coronavirus epidemic.