SBA releases updated data on PPP loan forgiveness process
The Small Business Administration (SBA) last week released the most recent paycheck protection program (PPP) data which revealed that the agency has completed 46 percent of the loan forgiveness process, totaling 59 percent of the total PPP loan value to be forgiven.
In addition, the SBA highlighted that 4,836 lenders have requested forgiveness for PPP loans.
Recently, SBA announced an interim final rule (IFR) that makes several changes to the PPP forgiveness process; the IFR became effective July 28.
NAFCU will continue to advocate for improvements and transparent guidance to ensure credit unions can lend effectively through the SBA’s programs. Stay tuned to NAFCU Today for the latest from the SBA, Treasury, the Fed, and the administration. Access the association's PPP FAQs here.
Add to Calendar 2022-05-20 14:00:00 2022-05-20 14:00:00 BSA Training for Your Board The Bank Secrecy Act (BSA) remains an area of heightened concern and examiners continue to elevate compliance expectations for your credit union. During this BSA Training for Your Board webinar, we will address the key components of BSA, Anti-Money Laundering (AML) and the Office of Foreign Asset Control (OFAC) compliance. You will leave with a basic understanding of the BSA, the current examiner focus for compliance and your role as a board member. Covered Topics Program requirements Risk assessment Regulator focus Regulator updates and guidance Key Takeaways Understand the basic requirements of the BSA. Develop an understanding of BSA risks to apply to your credit union. Anticipate examiner expectations and how to satisfy them. Register Now$295 Members | $395 Nonmembers(Additional $50 for USB)One registration gives your entire team access to the live webinar and on-demand recording until May 20, 2023.Go to the Online Training Center to access the webinar after purchase » Who Should Attend Board members Board chairs and vice chairs Supervisory committee members Presidents/CEOs Executive assistants Education Credits NCCOs will receive 1.0 CEUs for participating in this webinar NCRMs will recieve 1.0 CEUs for participating in this webinar NCVEs will receive 1.0 CEUs for participating in the webinar NCBSOs will receive 1.0 CEUs for participating in the 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, DC. 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 email@example.com America/New_York public
Credits: NCCO, NCRM, NCVE, NCBSO, CPE
Spring 2022 Supervisory Highlights Part II: Mortgage Origination, Prepaid Accounts, Remittances, and Student Loan Servicing
Examination & Enforcement
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