Banco Popular de Puerto Rico

Prosecutors charge two Rhode Island men with trying to rip off the program; the bank says it has received “inquiries” from state and federal officials on its offering of small business loans.

The SBA's long-standing Economic Injury Disaster Loan program has been so overwhelmed with applications that the agency has capped loan sizes; ECB finding few takers for a program in which it pays banks to make business loans.

The agency’s IG says the PPP failed to prioritize borrowers in underserved and rural markets; the firms, which lack deposits to cushion them, are vulnerable to borrowers defaulting on their loans.

The regional bank’s $240 million investment from 1995 is now worth $17 billion, which it could use to fund acquisitions; the debt deal will count towards the German bank’s capital buffers.

The move is the first time the bank has provided services to digital currency players; the Washington Post and four other heavy hitters want details on PPP and small business disaster loan programs.

The German bank’s money laundering controls are still not up to snuff, among other problems; three Democrats say banks may have shortchanged small-business borrowers.

The regional wants to “play offense” with the proceeds of its $17 billion BlackRock stake; shares of some bank shares jumped 6% Thursday but remain well behind the rest of the market.

The program would give small businesses greater flexibility on how they use loan proceeds; Warren Buffett’s company dumped 10 million of its nearly 12 million shares in the bank.

Black and Latino business owners were less likely to get loans than overall borrowers, survey states; Atlanta Fed president tells lenders they won’t be second-guessed if they do right by borrowers.

One of the biggest subprime auto lenders agreed to pay $550 million to settle predatory lending charges; the bank regulator has largely completed his goal of overhauling the Community Reinvestment Act.