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.
McConnell announces new round of PPP funds in GOP stimulus plan
The Senate Republicans' coronavirus relief package, known as the HEALS Act, would continue to make the loan program available to businesses, but any final bill would need to be negotiated with House Democrats.
Banks sharpen focus on cost-cutting as revenue outlook dims
With the coronavirus pandemic intensifying and hopes for a quick economic recovery fading, banks large and small are reducing headcounts, shuttering branches, shedding office space and generally trying to trim expenses wherever they can.
To decide fate of branches, banks refine their data models
BBVA and Rockland Trust have taken a highly numbers-driven approach to branch reopenings. All banks are having to rethink their branch networks during the pandemic and beyond, and analytics software is helping.
How the pandemic redefined Truist's philanthropic priorities
The company's foundation, whose mission had been carefully planned by BB&T and SunTrust before their merger, opened just nine days before the novel coronavirus was declared a pandemic. Here's what happened next.
The McLean, Va.-based company admitted that it failed to file suspicious activity reports even in cases when it knew about criminal charges against specific customers. The misconduct took place in a unit that served check-cashing businesses and was later shut down.