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Measures that delay the Current Expected Credit Losses standard and reduce a community bank capital ratio are temporary, but the industry now sees an opening to argue that they should be permanent.
April 7
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Firms that spread big-dollar deposits to community banks have seen a rush in demand as small businesses seek emergency loans to weather the coronavirus pandemic.
April 7
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The Small Business Administration said lenders approved $71 billion in loans from the Paycheck Protection Program in less than five days.
April 7
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President Trump on Tuesday praised some of the country's largest financial firms for pledging to take new steps to help small businesses disrupted by the coronavirus.
April 7
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Simmons Bank in Arkansas is dealing with extra traffic on its digital channels and added call volume while communicating with customers through email, push notifications and even snail mail as well as its new app, says Alex Carriles.
April 7
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The Fairfax, Va.-based credit union agreed to pay $2.7 million in the class action case, though it did not admit any wrongdoing.
April 7
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The online lender, which is looking to become a direct lender in the Paycheck Protection Program, has accepted 37,000 applications while working with an unnamed bank to fund businesses harmed by the coronavirus pandemic.
April 7
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The share of borrowers seeking payment relief rose more than tenfold as COVID-19 concerns grew and authorities encouraged the practice, according to the Mortgage Bankers Association.
April 7
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The Small Business Administration’s loan processing platform went down Monday for as long as four hours, temporarily halting the ability of lenders to process loans for small business owners seeking relief from the impact of the coronavirus.
April 7
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Soaring demand for loans from firms hard hit by the coronavirus pandemic has led to predictions that the program could soon run out of funds.
April 7
