House passes updated HEROES Act with CDFI funding, SAFE Banking Act

The House voted Thursday night to pass an updated HEROES Act COVID-19 relief legislation. CUNA wrote to House leadership Wednesday noting areas it supports, specific concerns and additional suggestions.

“We appreciate the swift response that Congress and the administration have undertaken to address the economic consequences of the pandemic,” the letter reads. “More needs to be done, and still more will nee d to be accomplished in the months and years ahead. As financial first responders, America’s credit unions stand willing and able to help consumers and small businesses during the crisis and into recovery.

The letter calls for inclusion of House and Senate bill language that would provide for the simple forgiveness of Paycheck Protection Program (PPP) loans under $150,000.

CUNA supports the following provisions in the bill:

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