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On August 10, the Small Business Administration opened its Paycheck Protection Program loan forgiveness portal, which enables lenders to submit information for approval.
SBA Announces Webinars for Lenders & Small Business Owners
The Small Business Administration (SBA) has announced it will be holding a series of webinars designed for lenders, small business owners, and lending partners. The…
Governmental Affairs Tracking Many Items in August
Traditionally, August is a quiet month for legislative work in Augusta and in Washington, DC. While that still may be the case, it also could…
In Senate Hearing, NCUA Nominee Forced to Defend Credentials
Members of the Senate Banking Committee considered Kyle Hauptman’s nomination to the National Credit Union Administration board.
Governor’s Economic Recovery Committee Issues First Report
Governor Janet Mills created the Economic Recovery Committee (ERC) to develop recommendations for reviving Maine’s economy. The ERC submitted a report to the Governor on…
What’s New In Governmental Affairs
The League’s Governmental Affairs team provides an update on state and federal activity of interest to Maine credit unions.
CU Employees Can Wear Face Shields When Working Behind a Barrier
The Mills Administration has confirmed that face shields are a permitted form of facial covering for financial institution employees when deployed with a plexiglass barrier.…
CU System Sees Major Victory as SCOTUS Denies ABA Appeal on FOM Rule
The U.S. Supreme Court denied an appeal from the American Bankers Association to void the NCUA field of membership (FOM) rule, a decision that marks…
Deadline to Submit PPP Loan Applications Is Approaching
The deadline to apply for a Paycheck Protection Program loan is approaching. Money is still available, but loan applications must be submitted by June 30.
Paycheck Protection Flexibility Act Signed Into Law
Late last week, President Trump signed the Paycheck Protection Flexibility Act, a bill that provides updates to the Paycheck Protection Program. The U.S. Treasury and…
NCUA Board Member Todd Harper to Join League COVID-19 Town Hall Meeting
On June 8, National Credit Union Administration Board Member Todd Harper will join the League’s regularly scheduled COVID-19 town hall meeting.
SAFE Banking Act Language Contained in Heroes Act
On May 15, the U.S. House of Representatives passed the Heroes Act, the latest COVID-19 pandemic relief bill. Contained in this legislation is language from…
League Governmental Affairs Updates
The League’s Governmental Affairs team provides updates on the newly formed Economic Recovery Committee and the Paycheck Protection Program.
Governor Mills Outlines Plan for Restarting the State’s Economy
On April 28, Governor Mills outlined her plan to gradually restart the state’s economy. The Governor’s plan establishes four phases for reopening, with the first…
House Passes $310B In Additional PPP Funds
The House passed a bill adding $310 billion to the Paycheck Protection Program (PPP). President Donald Trump is expected to sign the bill shortly.
Governor Mills Issues New Executive Order
On Tuesday, Governor Mills signed an Executive Order that modifies the FAME Consumer Loan Program created in response to the COVID-19 pandemic.
Statement by Treasury Secretary Mnuchin and SBA Administrator Carranza on the PPP and EIDL Programs
On Wednesday, U.S. Treasury Secretary Steven T. Mnuchin and U.S. Small Business Administration Administrator Jovita Carranza issued a statement regarding the Paycheck Protection Program and…
New Paycheck Protection Program Updates
On Wednesday, the U.S. Small Business Administration’s Maine district office provided updates on the Paycheck Protection Program.
Remote Notarization Order Will Help CUs During COVID-19
Governor Mills issued an Executive Order this week permitting remote notarization for most transactions, including estate planning and business transactions.
State and Federal Policymakers Continue to Address COVID-19
Federal Updates Late last week, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) into law, providing a third wave of action from the…
Governor Mills Issues New Restrictions on Non-Essential Businesses
On Tuesday, Governor Mills issued an Executive Order outlining new restrictions on non-essential businesses in Maine. Credit unions were explicitly named as an essential business…
Maine Legislature Passes Critical Legislation Before Adjournment
Before adjourning, the Maine Legislature earlier this week approved legislation to help the state respond to the coronavirus (COVID-19) outbreak.
ABA Asks Supreme Court to Void NCUA Field of Membership Rule
The American Bankers Association is asking the U.S. Supreme Court to rule that the NCUA’s expansion of its Field of Membership rule is illegal.
Celebrate Spring by Dressing Casual for CULAC
Jump into spring in style at your credit union by participating in a casual dress week for CULAC, March 16 – 20. We are in…
CU Day at the State House Postponed
The Legislature is not scheduled to be in session on March 23, the day the League was planning to hold Credit Union Day at the…