Paycheck Protection Program

The company said it had cut 20 positions and found a way to shed 35,000 square feet of office space by the end of 2020.

Wells Fargo customers targeted with phishing attacks using calendar invites; Fed freezes stock buybacks, caps dividends after stress test results; Citigroup names Titi Cole its head of global operations and fraud prevention.

The Loan Source, the nonbank lender buying the Paycheck Protection Program loans, has similar deals in place with other lenders.

The Paycheck Protection Program had more than $100 billion in funding left as of last Saturday, with only days remaining until the Small Business Administration stops taking new applications on June 30.

Despite success lobbying for PPP inclusion and the elimination of Regulation D, the industry must continue to push for additional reforms.

The payments company is buying Finicity, which powers platforms for Rocket Mortgage and others; the small N.J.-based lender to fintechs is the fourth largest PPP provider.

The Paycheck Protection Program put a premium on speed in processing and funding loans.

Business owners are changing banks at three times normal levels, a trend researchers attribute to their difficulty in obtaining emergency loans. If the forgiveness stage of the Paycheck Protection Program proves arduous, that rate could climb much higher.

The agencies said late Friday that they will provide information on small businesses that received $150,000 or more from the Paycheck Protection Program.

Activity in the Paycheck Protection Program has waned, but some argue that many small businesses, especially those owned by minorities, will miss out if the June 30 application deadline isn't extended.