Credit Unions Vent Frustration With PPP Rules

Credit unions continue to express frustration with the Small Business Administration, contending that they are unsure about how to solve the serious problems they are facing in implementing the popular Paycheck Protection Program.

“Unfortunately, as was expected, the compressed timeframe in which the PPP was enacted and implemented resulted in many challenges for our member credit unions in making, processing, and disbursing loans,” Lance Noggle, CUNA’s senior director of advocacy and counsel said in a letter to SBA officials. “Questions and concerns have morphed as the program is now almost 45 days old.”