House Financial Services Chairwoman Maxine Waters (D-Calif.) is firing back at lawmakers who have called for allowing installment and payday lenders to be eligible for Paycheck Protection Loans, contending that such companies engage in predatory lending practices.
A coalition of supporters of the Community Development Financial Institutions program has asked Congress to set aside $1 billion for the program in the next coronavirus economic relief measure.
In a letter to congressional leaders, the groups, including CUNA, contend that federal financial relief funding is not reaching small businesses and families that are not served by mainstream lending institutions. CUNA noted that there are 324 CDFI-certified credit unions across the country.
A key New York City official is renewing a push to convince the city to provide debt forgiveness for taxi drivers left drowning in debt after they took out huge loans from financial institutions, including two credit unions that later were liquidated.
Four credit unions have joined marijuana advocates who are pushing Congress to make marijuana firms eligible for Small Business Administration coronavirus crisis loans.
Congress should expand the ability of all credit unions to serve underserved areas, NCUA Chairman Rodney Hood wrote this week, as he sent Senate Banking Chairman Mike Crapo (R-Id.) a list of legislative changes he believes will help the agency respond to the coronavirus crisis.
Hi Friends, Welcome to my new home on the Internet. The coronavirus pandemic has struck people in myriad ways. I’m more fortunate than many. I have my health. All I lost is my gig. The owners of The Credit Union Times last week furloughed all freelance writers at the company’s publications. Quite frankly, I’ve been having too much fun doing what I’ve been doing to give it up now. So, with the technical assistance of Kathleen, my wife (I could never have done it on my own), we have launched this website. Each day you will find the same coverage