The NCUA board adopted a proposed rule that states that the NCUA will not take action, solely based on administrative guidance, against a credit union.
In April, the Small Business Administration indicated that SBA Economic Injury Disaster Loan Advances would be treated as grants, but now says the forgiven amount of a Paycheck Protection Program loan must be reduced by the EIDL Advance, causing trouble for both borrowers who owe the money and the lenders who will have the unforgiven part of the PPP loan on their balance sheets. Meanwhile, the SBA’s Inspector General released a devastating report that thousands of ineligible businesses received PPP loans.
CUNA has launched the “Advancing Communities” campaign, a new effort designed to provide state and federal policymakers and communities with information about the economic and social impact that credit unions provide across the country.
The Federal Communications Commission should require telephone carriers to promptly notify customers when a call has been blocked, a coalition of business groups told the commission this week.
The National Credit Union Administration on Oct. 14 will begin considering applications from credit unions that wish to seek a community charter under its expanded Field of Membership rule, NCUA Chairman Rodney Hood said this week.
Kirsten Sutton, chief of staff for Consumer Financial Protection Bureau Director Kathleen Kraninger, has been named senior vice president and executive director of the American Bankers Association’s Card Policy Council.
The Card Policy Council handles legislative, regulatory and communications issues facing credit card issuers and payment card networks.
Credit unions and other businesses that must reach consumers still are having their automated phone calls blocked despite the urgency of their messages, groups representing the financial services, collections and healthcare management industries told the Federal Communications Commission Monday.
House Financial Services Chairwoman Maxine Waters (D-Calif.) on Wednesday called on the Federal Housing Finance Agency to kill—not just delay—its controversial 0.5% fee on the refinancing of Freddie Mae and Freddie Mac mortgages.
The coronavirus pandemic has slowed down much of Washington. The halls of the Capitol appear empty. Charlie Palmer Steak, a restaurant that usually serves power lunches to the well-connected, is temporarily shuttered. Lobbyists are meeting on Zoom and other similar platforms. But the political fundraising machine grinds on. The political action committees operated by the nation’s two largest credit union trade groups, the Credit Union National Association and the National Association of Federally Insured Credit Unions, continue to fuel that machine with millions of dollars in campaign contributions to House and Senate candidates across the country. By the end of
The Consumer Financial Protection Bureau this week agreed to extend the period for comments on how it can better enforce the Equal Credit Opportunity Act.
The original deadline was Oct. 2; the new deadline is Dec. 1.