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The SBA's long-standing Economic Injury Disaster Loan program has been so overwhelmed with applications that the agency has capped loan sizes; ECB finding few takers for a program in which it pays banks to make business loans.
May 8 -
Up to 12% of loans under the $660 billion small-business rescue program could be tied to misleading or completely phony applications, fueling concerns about lenders' potential liability.
May 7 -
Stuart Levey, HSBC’s chief counsel and a former U.S. Treasury undersecretary, will head the cryptocurrency project; lender groups say the demands of those small business loans are not so easy to meet.
May 7 -
Seneca-Cayuga Bancorp's capital levels have fallen steadily since peaking in 2013.
May 6 -
Regulators need to give more detailed guidance on the coronavirus relief program for small businesses so lenders don’t get trapped in underwriting mistakes down the road.
May 6Oliver Wyman -
Prosecutors charge two Rhode Island men with trying to rip off the program; the bank says it has received “inquiries” from state and federal officials on its offering of small business loans.
May 6 -
The agencies issued a rule to better enable banks to participate in two of the Federal Reserve’s lending facilities and “support the flow of credit to households and businesses.”
May 5 -
Bankers are bracing for accusations of discrimination in the way Paycheck Protection Program loans were allocated.
May 5 -
It's time for agencies like the Small Business Administration to stop playing catch-up and invest in state-of-the art technology.
May 5Alliance for Innovative Regulation -
The largest U.S. banks stepped up lending to dominate the government's small-business rescue program after playing an undersized role in its early days.
May 5