CARES Act

• Leveraged loans

  Leveraged lending has avoided pandemic hit. Will that last?

  Defaults have been milder than expected thanks to government relief and stricter underwriting. But with the crisis dragging on and policymakers unable to agree on a stimulus plan, loans to highly indebted companies remain at risk.

  By Hannah Lang

  October 15

  
• Paycheck Protection Program

  Stalled stimulus talks put bankers on edge

  Executives are urging Congress and the White House to prioritize another round of help for businesses amid concerns that the continuing restrictions on reopening could lead to more loan defaults.

  By Neil Haggerty

  October 13

  
• Earnings

  Murky economy complicates credit outlook at JPMorgan Chase

  The banking giant may be sitting pretty with plenty of money reserved for bad loans — or it could have to set aside billions more in coming quarters. It hinges on an ongoing U.S. recovery and the passage of a new stimulus package.

  By Jon Prior

  October 13

  
• Paycheck Protection Program

  SBA streamlines forgiveness for PPP loans of $50,000 or less

  Lenders welcomed the move as a helpful first step but are still urging policymakers to develop a broader, simpler process for expediting the approvals of loans extended to troubled small businesses under the Paycheck Protection Program.

  By John Reosti

  October 9

  
• Servicing

  Fed’s Wells Fargo review should consider forbearance snafu: Warren

  Customers suffered when they were placed in mortgage relief plans without their consent, the Massachusetts senator says. She urged the Federal Reserve to take the blunder into account as it weighs when to lift other sanctions against the bank.

  By Kevin Wack

  October 1

  
• CARES Act

  Powell, Mnuchin urge more congressional action to deliver pandemic aid

  Capping a series of appearances on Capitol Hill this week, the Federal Reserve chair and Treasury secretary emphasized that they don’t have the authority to reallocate CARES Act funds to assist small businesses on their own.

  By Hannah Lang

  September 24

  
• Main Street Lending Program

  Lawmakers urge Fed, Treasury to let CRE borrowers tap Main Street loans

  Commercial real estate companies are among those left out of the Federal Reserve’s middle-market relief program, but House members said they need government-backed financing to navigate the pandemic as much as anyone.

  By Hannah Lang

  September 22

  
• Loan modifications

  Bankers urge extension of CARES Act reg relief

  Measures designed to give banks and credit unions more flexibility to help customers weather the coronavirus pandemic are set to expire Dec. 31 unless Congress renews them.

  By Neil Haggerty

  September 18

  
• Main Street Lending Program

  Fed, Treasury clarify underwriting rules for Main Street loans

  The Federal Reserve and the Treasury Department released a set of FAQ's aimed to clearing up misconceptions about the Main Street Lending program and encouraging more bank participation.

  By Hannah Lang

  September 18

  
• Main Street Lending Program

  Fed weighs changes to Main Street program to allay banks' concerns

  With only a fraction of the funds allocated being used, Federal Reserve Chair Jerome Powell said the central bank is considering tweaks to the middle-market rescue program in an appeal to lenders wary of taking on added risk.

  By Hannah Lang

  September 16

  

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