A proposed Small Business Administration direct loan program could discourage credit unions from participating in other SBA programs, B. Dan Berger, president of the National Association of Federally-Insured Credit Unions warned Thursday.
Fifteen Republican senators are urging Democratic leaders to drop a proposal to allow the Small Business Administration to make $4.5 billion in direct loans to businesses without using credit unions and banks.
With talks over an economic stimulus bill seemingly stalled, the Republican leaders of two House committees are asking House Speaker Nancy Pelosi (D-Calif.) to put away her “wish list” and simply concentrate on renewing the Small Business Administration’s Paycheck Protection Program and shoring up other SBA loan programs.
The coronavirus crisis is presenting fraudsters with unique opportunities to ply their trade, the National Credit Union Administration warned credit unions last week.
New account fraud, identity theft and cybersecurity risks deserve heightened attention, as more business is conducted virtually, NCUA Chairman Rodney Hood warned in a letter to credit union officials.
Four credit unions have joined marijuana advocates who are pushing Congress to make marijuana firms eligible for Small Business Administration coronavirus crisis loans.