Law and regulation

Rodney Hood, chairman of the National Credit Union Administration, told the Financial Accounting Standards Board that complying with the Current Expected Credit Losses standard could adversely impact the industry's net worth.

It's time for agencies like the Small Business Administration to stop playing catch-up and invest in state-of-the art technology.

Rodney Hood, chairman of the National Credit Union Administration, says the agency's Central Liquidity Facility can be a vital backstop if a crisis occurs, but it will be stronger if more credit unions chip in to make it a success.

The American Bankers Association and the National Bankers Association will collaborate on training and advocacy efforts.

The latest version of the business lending initiative has $60 billion set aside for smaller lenders, including credit unions, but there are concerns the money will be allocated just as quickly this time as it was during the first round.

Lenders are being urged to prepare applications for the latest version of the Paycheck Protection Program.

Bank trade groups from all 50 states have called on Congress not to lift restrictions on member business lending under the guise of aiding with coronavirus relief efforts.

Lawmakers are considering a plan to reserve Paycheck Protection Program funds for lenders with $50 billion in assets or less, a figure that would include nearly all credit unions.

Congress won’t be back to Washington for at least two weeks but credit unions already have a laundry list of requests for lawmakers to consider.

This is the first time since 2014 that the regulator won't penalize credit unions that file within 30 days of the deadline.

Brian Smith, who spent the past decade with Regions Financial, will head the bank's government relations and public policy team.

The National Credit Union Administration is giving lenders and borrowers extra time to complete appraisals to ensure mortgages are still being completed despite the pandemic.

The Small Business Administration stopped approving loans when the Paycheck Protection Program hit its cap.

Lawmakers delayed the new accounting standard as part of the stimulus package, but they shouldn't let bankers persuade them to eliminate it outright.

The Small Business Administration stopped approving loans when the Paycheck Protection Program hit its cap.

Gov. Brad Little recently signed legislation into law clarifying matters related to lending, investments and fixed assets.

The National Credit Union Administration board unanimously approved changes to an interim rule regarding the regulator's Central Liquidity Facility.

In blue states in particular, governors and attorneys general are taking up the mantle of consumer protection during the coronavirus emergency, effectively adding another layer of regulation to the patchwork of state and federal oversight.

The maneuver could delay efforts by Senate Majority Leader Mitch McConnell, R-Ky., and Treasury Secretary Steven Mnuchin to add another $250 billion to the Paycheck Protection Program.

The decision sparked outrage from small-business owners who have checking accounts with the bank but not loans or business credit cards. Bank of America started taking applications Friday for a $349 billion program that's intended to offer aid to small businesses suffering from the shocks of the coronavirus pandemic.