Commercial lending

The bank discovered the actions, all of which were tied to the SBA's Economic Injury Disaster Loan program, after noticing that suspicious amounts of money had been deposited into checking accounts owned by bank employees, according to a person with knowledge of the matter.

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.

Bank of Montreal's top executive says it's a "myth" that his company's commercial lending business is taking big risks and argues the bank will come through the recession with fewer loan losses than rivals.

Bankers and fintech executives want lawmakers returning to Washington to focus on streamlined forgiveness and a second round of Paycheck Protection Program loans for small businesses.

Only one of the 118 loans bought by the Federal Reserve through Aug. 31 was close to the $250,000 minimum in the rescue program, aimed small to midsize businesses hurt by the pandemic.

Fintech lenders that reported a surge in missed payments at the start of the pandemic have seen credit quality rebound substantially since. But credit performance could still deteriorate if high unemployment persists and Congress fails to enact more relief measures.

On Jun. 30, 2020. Dollars in thousands.

The agreement between Colorado authorities, marketplace lenders and banks offers a way to structure partnerships without triggering the wrath of state regulators.

More than $1 billion in coronavirus relief went to small businesses that received multiple loans and a congressional subcommittee analyzing the Paycheck Protection Program says it has seen evidence of fraud in thousands more loans.

The bank's five-year commitment will focus on providing more capital to small businesses and expanding access to affordable housing and homeownership.