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Ginnie Mae will begin taking requests for assistance from issuers who, having exhausted all other options, are having trouble advancing borrowers' principal-and-interest payments to investors amid the pandemic.

After opening-day fiasco, SBA upgrades lender portal with Amazon assist; West Virginia’s First State Bank closed by regulators; BofA offers emergency loans to borrowers first, freezing out depositors; and more from this week’s most-read stories.

Bank of America, which came under fire for prioritizing applications from existing small-business customers, asked a federal judge in Baltimore to reject a request in a lawsuit to temporarily bar it from employing the practice.

Bankers say they’re still trying to figure out if the Fed’s complex loan-buying vehicles will help them cater to the needs of midsize commercial customers hammered by the economic shock from the coronavirus outbreak.

The week-old Paycheck Protection Program will be opened up to sole proprietors and independent contractors on Friday.

Midsize businesses and state and local governments are among the beneficiaries of the central bank's latest $2 trillion effort to mitigate the economic damage caused by the coronavirus pandemic.

Many states are offering additional flexibility as more consumers dip into their savings as a result of the pandemic’s economic fallout.

Many banks were hitting their limits for lending to small businesses devastated by the coronavirus outbreak. They say the Fed's decisions to help fund additional loans and relax capital requirements will resolve many of their problems.

Customers in the challenger bank's pilot program drew down an average of $200 each in advance of the government's $1,200 payments.

Commonwealth of Australia (CBA) reports digital wallet users spent a AUS$1 billion (about $630 million) in March 2020, a high for the bank that's part of an acceleration to digital wallets and contactless cards during the coronavirus crisis.