John Reosti is a reporter covering community banks in particular and the financial services industry in general. He also focuses on the Small Business Administration, the National Credit Union Administration Board and issues connected to the CECL accounting standard.
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The panel shot down a proposed interim final rule regarding time limits for overdrafts, the first time in recent memory that an issue before the board did not have the votes to pass.
May 21 -
The Small Business Administration gave lenders some direction for closing out Paycheck Protection Program loans. Bankers say it's an encouraging start, but they want more protection from liability and a concession on nonpayroll expenses.
May 20 -
The sellers will continue to service the loans and retain the fees they receive from the Small Business Administration.
May 20 -
Mike Maddox will succeed George Jones on June 1.
May 19 -
Triad Business Bank in North Carolina, which opened in March, has made $106 million in Paycheck Protection loans.
May 17 -
The agencies produced an application process that includes favorable interpretation of qualifying expenses.
May 15 -
The Iowa company said Brent Giles, who was CEO of a bank that was recently sold, will run its Wisconsin Bank & Trust.
May 14 -
The Independent Community Bankers of America would not rule out legal action if Congress doesn't address the National Credit Union Administration's recent decision expanding the low-income designation.
May 13 -
SBA Express has existed for years, but its new $1 million cap could prove helpful to small businesses that need funds for more than just payroll expenses.
May 12 -
The Small Business Administration's inspector general also flagged a number of shortcomings in the implementation of the Paycheck Protection Program.
May 8
