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NAFCU highlights key provisions of American Rescue Plan Act in new resource
NAFCU is committed to ensuring credit unions have the resources they need to remain informed of the ever-changing legislative and regulatory environment as they navigate business operations through the coronavirus pandemic and beyond. To further this mission, the association recently released a new complimentary resource summarizing the key provisions of the American Rescue Plan Act of 2021.
The American Rescue Plan Act, enacted March 11, includes NAFCU-supported provisions to help small businesses and provide assistance to homeowners and renters.
The association’s easy to navigate summary chart breaks down the need-to-know provisions, which include:
- targeted expansion of the Small Business Administration’s economic injury disaster loan (EIDL) program and additional funds for the paycheck protection program (PPP);
- establishment of a Homeowner Assistance Fund and appropriation of additional funds for rental assistance; and
- extension of available paid sick and paid family leave credits, similar to what was made available under the Families First Coronavirus Response Act (FFCRA).
The association also has available a similar resource summarizing key relief provisions enacted under the Phase 4 coronavirus relief and FY2021 federal government omnibus measure and a chart to breakdown the key Bank Secrecy Act (BSA)/anti-money laundering reforms included in the fiscal year 2021 National Defense Authorization Act.
NAFCU's dedicated coronavirus resource page has a number of additional resources, including links to pandemic-related webinars, compliance blog posts, and the latest developments related to NAFCU's 2021 conference lineup.
Subscribe to NAFCU Today to stay informed of the latest updates. Access all NAFCU's advocacy, compliance, and education resources online, anytime.
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