SCOTTSDALE, Ariz.–A new analysis of where Paycheck Protection Loans have gone reveals more details into who is getting what, how much is being spent per job saved, where credit unions fit in, and more.
THE news
HOUSTON–First Service Credit Union has introduced a new auto loan that allows borrowers to walk away from the deal in the event of a job loss within six months of taking out the loan.
WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) has issued an advisory on the potential indicators of two types of consumer fraud that have been observed amid the coronavirus pandemic: imposter scams and money mule schemes.
SNELLVILLE, Ga.–The African American Credit Union Coalition (AACUC) and the MD|DC Credit Union Association co-hosted a town hall the organizations said was designed to explore the “human and economic toll of systemic racism and how the movement can effect change.” Approximately 200 people participated in the “Commitment to Change Through Action” virtual town hall.
WASHINGTON—Newly released minutes from the most recent meeting of the Federal Open Market Committee (FOMC) indicate the Fed will likely keep rates near rock-bottom. The minutes from the June meeting, which was held via videoconference, further indicate Fed members do not see consumer demand rebounding at the level once envisioned.
SANTA MONICA, Calif.–Retail sales of automobiles over last weekend’s Fourth of July holiday will be the next big test of industry’s strength and resiliency and a “litmus test for automakers in deciding to further pull back on incentives,” according to a new analysis.
WASHINGTON—The Centers for Disease Control and Prevention (CDC) has posted tips and advice on its website for banks and credit unions to follow to protect staff and slow the spread of COVID-19.
WASHINGTON–When Congress passed the $2.2 trillion dollar Coronavirus Aid, Relief, and Economic Security Act (CARES) in late March, lawmakers said it would not be a repeat of the 2008 bailout, which largely went to help powerful banks on Wall Street, and would instead benefit those smaller companies most in need. But a new analysis suggest that has not been the case.
WASHINGTON–The Supreme Court has denied an appeal by the American Bankers Association (ABA) seeking to void membership rules NCUA first approved in December of 2016.
ALEXANDRIA, Va.–Credit unions that were members of the former Southwest Corporate FCU will receive a letter from NCUA within the next week notifying them of the amount they will receive from the distribution of the asset estate created after the defunct corporate was conserved following the financial crisis of a decade ago.