The Small Business Administration's last-minute plan to temporarily block larger banks from the relief loan program is another example of the agency changing the rules midstream, critics said.
As the coronavirus outbreak starts to ebb in New York and pressure rises on the U.K. government to end London’s lockdown, the largest banks are grappling with how to adhere to social distancing rules.
Treasury secretary says big firms that took PPP loans should apologize, not just return the money; German fintech’s shares drop 26% as audit fails to rebut accounting fraud allegations.
The Small Business Administration has processed more than 476,000 applications from struggling small-business owners, but lenders say access to the second round of the Paycheck Protection Program has been spotty.
Some bankers, economists, policy experts and even Mark Cuban say that creative uses of overdraft programs could be lifelines for consumers and businesses whose finances have been upended by the coronavirus crisis.
Unlike recent affairs that were marred by protests, this year's meeting — held online because of the coronavirus outbreak — went smoothly as investors overwhelmingly approved the bank's slate of directors and executive compensation plan.
