Jan 29, 2021
PPP Tax Exemption Passes NJ Senate
Legislation (S3234) that would exempt Paycheck Protection Program (PPP) loans to New Jersey small businesses from state taxes advanced, passing the state Senate by a unanimous…
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Jan 29, 2021
NJ Senate Approves Onerous Student Lender Restrictions
Legislation (S2358) that would require the registration of private education lenders and establish protections for private education borrowers cleared the New Jersey Senate by a…
Jan 28, 2021
CrossState InfoSight Adds Channel Updates
CrossState has made updates to several of its channels in InfoSight, including Loans and Leasing, Coronavirus, and RISK Alerts. Loans and Leasing Channel The Ability to Repay topic has been…
Jan 28, 2021
NCUA, CFPB Full Memorandum of Understanding Released
The NCUA and the CFPB will attempt to coordinate their interpretations of regulatory compliance and proposed remedies for violation of rules at credit unions with…
Jan 27, 2021
SBA Taking Steps to Smooth Out First Draw PPP Loan Review
The U.S. Small Business Administration (SBA) announced it is taking steps to improve the First Draw Paycheck Protection Program (PPP) loan review so that small businesses have as much…
Jan 26, 2021
NCUA Issues New Regulatory Alert on CFPB’s Amendments to ATR/QM Rule
The National Credit Union Administration (NCUA) issued a new Regulatory Alert, 21-RA-01, on the Consumer Financial Protection Bureau’s (CFPB) two final rules amending the Ability-to-Repay/Qualified Mortgage…
Jan 26, 2021
NCUA Accomplishments
National Credit Union Administration (NCUA) Chairman Rodney E. Hood released selected accomplishments since he was sworn in as the eleventh Chairman of the NCUA in April 2019….
Jan 26, 2021
NCUA’s Streamlined CDFI Application Round Now Open
Federally insured, low-income credit unions seeking Community Development Financial Institution (CDFI) certification can now apply to use the National Credit Union Administration’s (NCUA) streamlined qualification…
Jan 25, 2021
Todd Harper Selected as New NCUA Board Chairman
As expected, President Biden appointed Democrat Todd Harper as chairman of the National Credit Union Administration (NCUA) board. “The team here at CrossState has had a long…
Jan 25, 2021
NCUA and Federal Banking Agencies Issue FAQs Regarding SAR and Other AML Requirements
The National Credit Union Administration (NCUA), jointly with the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Financial Crimes…