NAFCU, trades call on Congress to address mounting PPP loan holds issue
NAFCU Friday joined with several financial services trade organizations on a letter to House Small Business Committee and Senate Small Business Committee leadership, urging members to ensure the Small Business Administration (SBA) makes every effort to clear the thousands of loan holds currently in the paycheck protection program (PPP).
Additionally, the group asked that all outstanding PPP loan applications that are submitted through the platform by March 31 – the programs current end date – are reviewed and processed, ensuring that all eligible small businesses currently held up by loan holds or process delays are able to receive much needed funding.
“Since its inception the PPP has served a vital role in helping millions of small businesses survive,” wrote the group in the letter. “As this program reaches its current congressionally authorized sunset date, thousands of our nation’s small businesses have filed or intend to file applications for this critical economic lifeline.
“They should be given the opportunity to receive these funds through the full program authorization period,” the group concluded.
The SBA is currently only processing PPP applications for small businesses with fewer than 20 employees through March 9 as part of the Biden administration's efforts to promote equitable access to capital.
NAFCU will continue to advocate for program improvements and transparent guidance to ensure credit unions can lend effectively through the PPP. Stay tuned to NAFCU Today for the latest on the program from the SBA, Treasury and the administration. Access the association's recently updated PPP FAQs here.
Add to Calendar 2021-10-21 14:00:00 2021-10-21 14:00:00 FFIEC IT Examination Handbook Update - Deconstructing the Architecture, Infrastructure & Operations Booklet If you have ever wanted to know what’s new in the Federal Financial Institutions Examination Council (FFIEC) IT Examination Handbook, this is the session for you. In this webinar we will deconstruct the Architecture, Infrastructure & Operations (AIO) booklet by comparing the AIO booklet to the Operations booklet which it replaces. We dig into what’s new to AIO, including how the principles, design and content could impact your credit union during future IT exams. If you are a CISO, ISO, responsible for IT governance, or just want to stay on top of changes to IT regulatory guidelines, this session is for you. Key Takeaways Discover the key differences between the AIO booklet and the Operations booklet it replaces. Identify new principles in the AIO booklet as they relate to IT safety and soundness. Compare and contrast principles and concepts that overlap with the IT Security booklet. Review ideas on how to implement the AIO into your credit union’s Information Security Program. Purchase Now$295 Members | $395 Nonmembers (Additional $50 for CD)One registration gives your entire team access to the live webinar and on-demand recording until October 21, 2022.Go to the Online Training Center to access the webinar after purchase » Who Should Attend? NAFCU Certified Compliance Officers (NCCOs) NAFCU Certified Risk Managers (NCRMS) Chief Executive Officers Chief Financial Officers Chief Information Officers Chief Technology Officers Compliance, risk, and audit titles Education Credits NCRMs will receive 1.0 CEUs for participating in this webinar NCCOs will receive 1.0 CEUs for participating in this webinar CPA credit information is below; recommended 1.0 CPE credits. CPA Certification Credit Information Reviewer: Josie Collins, Associate Director of Education, NAFCU Learning Objectives: See key takeaways Program Level: Basic Prerequisites Needed: None Advance Preparation Needed: None Delivery Method: Group Internet-Based Recommended CPE Credits: 1.0 credits Recommended Field of Study: Regulatory Ethics – Technical About Our Webinars Our webinars are streamed live from NAFCU headquarters near Washington, D.C. Your audio/video feed of the presenters includes presentation slides and downloadable handouts. You can easily submit your questions to the presenters at any time during the live broadcast, with no dialing over the phone! The audio and video stream directly through your computer. Web NAFCU firstname.lastname@example.org America/New_York public
FFIEC IT Examination Handbook Update - Deconstructing the Architecture, Infrastructure & Operations Booklet
Credits: NCRM, NCCO, CPE
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