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Bankers say they’re still trying to figure out if the Fed’s complex loan-buying vehicles will help them cater to the needs of midsize commercial customers hammered by the economic shock from the coronavirus outbreak.11h ago
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The week-old Paycheck Protection Program will be opened up to sole proprietors and independent contractors on Friday.April 9
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With the government pumping trillions of new spending into the economy, experts are questioning the Federal Reserve's ability to keep prices stable.April 8
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The agency overhauled its system for the Paycheck Protection Program on Wednesday. Lenders hope it addresses the access issues and a crash that bedeviled the effort’s first week.April 8
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A bipartisan group of lawmakers wrote in a letter to the Treasury secretary that the Financial Stability Oversight Council should create a liquidity facility to deal with a flood of forbearance requests brought on by the coronavirus pandemic.April 8
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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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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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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 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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The government should encourage community lenders to offer six-month loan repayment forbearances to struggling businesses before it’s too late.April 7
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