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At its inaugural hearing, the committee appointed by lawmakers to oversee CARES Act implementation pressed for answers about why the Main Street Lending Program is off to such a slow start.August 7
![“Why [have] relatively few borrowers ... participated in this program?” said Sen. Pat Toomey, R-Pa. He added that he was interested in knowing "why it appears not to have a tremendous amount of demand."](data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==)
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Why banks want in on Google checking accounts; readying new tech tools to tackle anticipated rise in delinquencies; more institutions opt to sell PPP loans as heavy lifting nears; and more from this week’s most-read stories.August 7
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As more consumers do business online, some deposits are being unfairly categorized as brokered, inviting burdensome regulatory scrutiny.August 7
CEOAmerican Bankers Association
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The regulator announced in June it would use call report data from before the crisis to calculate bank assessment fees in September, a one-time change.August 7
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Whoever wins the White House in November may have immediate agency openings to fill, while a key decision looms about who will run the Federal Reserve after Jerome Powell’s term expires in 2022.August 7
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Spinning off its digital bank will allow Pennsylvania-based Customers to beef up its commercial lending and buy other banks. BankMobile, meanwhile, plans to pursue more white-label relationships and perhaps explore its own acquisitions.August 6
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Just eight loans had been made as of late July, six of them through a single community bank in Florida, according to new data on the federal rescue program for small and midsize companies hurt by the pandemic.August 6
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The central bank released new details about FedNow, which officials hope to get off the ground before a 2023 or 2024 target launch date.August 6
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Regulators found fault with the bank’s cloud migration efforts in the years that preceded a 2019 hacking incident.August 6
![“Why [have] relatively few borrowers ... participated in this program?” said Sen. Pat Toomey, R-Pa. He added that he was interested in knowing "why it appears not to have a tremendous amount of demand."](https://arizent.brightspotcdn.com/dims4/default/c075c11/2147483647/strip/true/crop/5441x3064+0+281/resize/460x259!/quality/90/?url=https%3A%2F%2Farizent.brightspotcdn.com%2Ffa%2F0d%2F81c080b543599e2611e02a1cf8cb%2Ftoomey-pat-bl-080720.jpg)
![“The urgency with which the emergency [stimulus] payments were spent underscores the importance of rapid access to funds for many households and businesses that face cash flow constraints,” said Federal Reserve Gov. Lael Brainard.](https://arizent.brightspotcdn.com/dims4/default/4a7a8ab/2147483647/strip/true/crop/3998x2251+0+208/resize/460x259!/quality/90/?url=https%3A%2F%2Farizent.brightspotcdn.com%2F90%2F99%2F26dab0f84aad919e2f91c299ab1b%2Fbrainard-lael-bl-080620.jpg)
