Banking

SBA Express has existed for years, but its new $1 million cap could prove helpful to small businesses that need funds for more than just payroll expenses.

Despite some improvements, almost one-quarter of respondents to a LendEDU survey were still waiting on their relief checks and those consumers are more likely to take on additional credit card debt.

Suncoast Credit Union and Apollo Bank said the pandemic complicated their efforts to secure regulatory approval.

The Georgia-based credit union hopes to gain more flexibility to widen its field of membership by switching from a federal charter.

The Term Asset-Backed Securities Loan Facility is just one example of a fund that could be retooled.

The prepaid card issuer will rely less on promotional marketing and more on its banking charter to drive profits, Henry said in his first public remarks since taking over as CEO in March.

C&NW Proviso, which has no website or online services, will gain a slate of new products and additional locations from the deal.

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 agency is being methodical in its rollout of the Main Street Lending Program in hopes of avoiding missteps that followed the launch of other coronavirus relief efforts. But observers say delaying aid brings its own risks.

Lawmakers are pushing for better data on who's receiving loans in hopes that more funds will be directed to lenders that serve women- and minority-owned businesses.

All 11 corporates have signed on as agent members of the CLF, boosting its borrowing authority by $13 billion.

Banks could end up holding many low-rate Paycheck Protection Program loans on their books for two years, and dealing with irate borrowers who failed to meet federal requirements for forgiveness.

The Summerville, S.C.-based institution will also close two branches as part of a broader strategic effort to better service members.

Rodney Hood, chairman of the National Credit Union Administration, will testify before the Senate Banking Committee about how the regulator and the industry have responded to the coronavirus pandemic.

The group that worked with the Fed to devise an alternative rate to Libor rejects criticism that the index favors megabanks.

On Dec. 31, 2019. Dollars in thousands.

On Dec. 31, 2019. Dollars in thousands.

On Dec. 31, 2019. Dollars in thousands.

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 failure to bring decades-old processes into the digital era not only continues to cost companies dearly but has become increasingly disruptive in the current COVID-19 environment.