Lending

Opportunity Fund seeks to fund more minority businesses.

Along with more PPP loans, the bill includes a 100% deduction for business meals provided by restaurants through year-end 2022.

New Paycheck Protection Program lowers the cap, but widens forgiveness.

When seeking out leads for successful loans, CUs must reevaluate their lead processes and risk models.

Meanwhile, forbearances remain above 5% of mortgages.

Credit union income was better than forecast this year; however, the economy might be headed into a double-dip recession.