John Reosti

The Small Business Administration began accepting applications Monday, but lenders such as JPMorgan Chase are holding off in hopes that Congress will grant blanket forgiveness for smaller Paycheck Protection Program loans.

Many sellers are ditching the loans to avoid the cumbersome forgiveness process. For others, the Paycheck Protection Program was never a strategic fit.

No two properties are alike, so lenders are tailoring their approaches for modification, forbearance and repayment of loans to a sector devastated by the pandemic.

The regulator approved a proposal that mirrors a rule banking regulators implemented in February 2019 to cushion the Current Expected Credit Losses standard's impact on capital levels.

A proposal to expand credit unions’ access to subordinated debt drew plenty of fire from bankers, but there are also concerns the regulation could be problematic for the institutions it aims to help.

A new Small Business Administration notice explains what steps lenders must take to seek approval of their forgiveness decisions under the Paycheck Protection Program. But lenders say lawmakers and regulators must do more to cut red tape.

The Ohio company, which has beefed up its loan-loss reserves, raised the possibility of more sales of oil and gas credits and talked up strong retail segments such as its marine and RV loans.

Many bankers want to focus more on the forgiveness process, assessing the status of deferrals and pursuing traditional lending opportunities.

While rival banks reported increases in loans and deposits, thanks largely to their participation in the Paycheck Protection Program, State Street and Bank of New York Mellon saw their balance sheets shrink in the second quarter.

The proposed Chicago de novo would focus on serving female entrepreneurs.

The South Carolina-based credit union will buy two locations from Arkansas-based Bank OZK as it moves to exit the Palmetto State.

The Arkansas bank is selling two South Carolina branches to a credit union just two weeks after announcing plans to divest its branches in Alabama.

Greater Nevada Credit Union, like a number of community banks, agreed to sell its Paycheck Protection Program loans to avoid having to navigate the complicated forgiveness process.

A growing number of lenders are unloading loans made through the Paycheck Protection Program.

Pedro Bryant will oversee a $3 million effort to fund small businesses in disadvantaged communities.

For all banks' claims that credit unions pose a threat to their commercial lending market share, they've accounted for just 2% of volume in the Paycheck Protection Program.

For all banks' claims that credit unions pose a threat to their commercial lending market share, they've accounted for just 2% of volume in the Paycheck Protection Program.

Russell Golden, who just stepped down from the Financial Accounting Standards Board, says he wants to be remembered for encouraging open discourse over new rules and efforts to simplify financial accounting.

The New York-area companies' $489 million agreement runs counter to recent merger pacts built around branch cuts and more tech spending.

Lenders are selling their Paycheck Protection Program loans or hiring outside companies to navigate the process in an effort to reduce risk and avoid overloading their employees.