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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.
October 9 -
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.
October 1 -
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.
September 24 -
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.
September 22 -
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.
September 18 -
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.
September 18 -
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.
September 16 -
For all the damage from the pandemic and economic downturn, this crisis has not impacted liquidity. Lawmakers would be foolish to permanently alter the Central Liquidity Facility.
September 11 -
The Senate Banking Committee met Wednesday to review central bank lending facilities such as the Main Street Lending Program, which provides bank-issued loans to middle-market firms. But some lawmakers on the panel said the focus of pandemic relief has been misplaced.
September 9 -
New analysis from S&P found that only two of the of the top 20 credit unions that participated in the Paycheck Protection Program loans had assets of less than $1 billion.
August 27