Credit unions were told Wednesday by their federal regulator that from 4 p.m. to 11:59 p.m. ET this day, the Small Business Administration (SBA) Paycheck Protection Program (PPP) will only accept loans from lending institutions […]
It’s too early to be making assessments of how to avoid a financial shock such as that caused by the coronavirus crisis – “we’re still putting out the fire,” the Federal Reserve Board chair said […]
Consumers impacted by the COVID-19 (coronavirus) pandemic can exercise their rights to modify or waive certain required waiting periods under the Truth in Lending Act/Real Estate Settlement Procedures Act (TILA-RESPA) integrated disclosure rule (also known […]
A review by the inspector general’s office at the National Credit Union Administration (NCUA) shows that none of the agency’s programs are considered to be susceptible to “significant” improper payments as defined by the Improper […]
Emerging credit risks resulting from the coronavirus crisis will be the focus of questions by federal examiners when they begin contacting the institutions they review beginning next week, the federal credit union regulator said Wednesday. […]
Two frequently asked questions about Bank Secrecy Act (BSA) compliance requirements of lenders participating in the Small Business Administration’s (SBA) Paycheck Protection Program (PPP), created to help small businesses manage through the coronavirus crisis, were […]
Banks making loans under the Paycheck Protection Program (PPP) are urged to “prudently document” their decisions for the loans – if nothing else, to help the banks qualify for credit under anti-redlining rules, the regulator […]
Title: Central Liquidity Facility Subject: Central Liquidity Facility; coronavirus response Agency: NCUA Status: Interim final rule; request for comments Summary: In response to the COVID-19 pandemic, the NCUA Board (Board) is issuing this interim final […]
Title: Temporary Actions To Support the Flow of Credit to Households and Businesses by Encouraging Use of Intraday Credit Subject: Intraday credit; coronavirus response Agency: Federal Reserve Status: Policy statement Summary: Due to the extraordinary […]
Changes to various lending and risk-based capital requirements at credit unions under various emergency programs developed to combat the financial impact of the coronavirus crisis are outlined and summarized in a letter from the federal […]
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