Regulatory & Compliance

The bill would have required the SBA to provide daily and weekly reporting on the Paycheck Protection Program.

Without clarification, federally-chartered credit unions would be the only not-for-profits not eligible for the tax relief under the new law.

The NCUA chairman writes, "I believe the compliance costs associated with implementing CECL overwhelmingly exceed the benefits."

"Giving priority to smaller loans will ensure that small businesses in our states have a fair shot at receiving PPP funds."

CUNA and NAFCU have made the same requests to the CFPB. It's unclear if or when the automated calls could begin.

"This election is still an opportunity for credit unions to make their voices heard."