CUNA Sends Pandemic Legislative Wish List to Congress

In a wish list sent to every office on Capitol Hill Tuesday, the Credit Union National Association renewed its call to allow expanded business lending by credit unions for one year to help businesses weather the coronavirus pandemic. A one-year exemption from the current Member Business Lending cap would open up some $5 billion for investment and could create as many as 50,000 jobs, CUNA said.

Democratic Senators Call for Streamlined PPP Forgiveness Application

All 45 Democratic senators are pushing the Trump Administration to develop a streamlined process for the smallest businesses to obtain loan forgiveness under the Paycheck Protection Program.

The 45 senators, in a letter to Treasury Secretary Steven Mnuchin and Small Business Administration Administrator Jovita Carranza, did not go as far as credit union trade groups, which have called for automatic loan forgiveness for certain borrowers.