Coronavirus Impact
Coronavirus Impact

The Small Business Administration stopped approving loans when the Paycheck Protection Program hit its cap.

April 16
4 Min Read
Some have suggested the Treasury Department could use its authority under the CARES Act to to protect stimulus checks from private creditors. A Treasury official reportedly told banks during a webinar that "nothing in the law" would prevent financial institutions from using the funds to cover debts owed by consumers.

In some cases, financial institutions are required by court order to divert funds to private creditors. But the industry has added its voice to a consensus for a legislative update to ensure Americans receive their full amount.

April 16
7 Min Read

Hilton Worldwide Holdings Inc. is raising cash by selling loyalty points and offering bonds as the company rides out the coronavirus crisis.

April 16
1 Min Read
Broken chains
BankThink

Lawmakers delayed the new accounting standard as part of the stimulus package, but they shouldn't let bankers persuade them to eliminate it outright.

April 16
4 Min Read

As millions of U.S. consumers are beginning to see stimulus checks electronically deposited into their bank accounts as part of the CARES Act, many companies are wondering how Americans will spend these funds.

April 16
1 Min Read

The Small Business Administration stopped approving loans when the Paycheck Protection Program hit its cap.

April 16
5 Min Read
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Legislation announced Wednesday would allow credit unions to make coronavirus relief loans to businesses without fear of bumping up against the member business lending cap.

April 16
2 Min Read
Neel Kashkari, president and chief executive officer of the Federal Reserve Bank of Minneapolis.

Federal Reserve Bank of Minneapolis President Neel Kashkari says that large U.S. banks should raise $200 billion from private investors and stop paying dividends so they can support the economy.

April 16
1 Min Read
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