BankThink

Ginnie Mae launches 'last resort' coronavirus-related liquidity aid

04/11/20

Ginnie Mae will begin taking requests for assistance from issuers who, having exhausted all other options, are having trouble advancing borrowers' principal-and-interest payments to investors amid the pandemic.

[more]

SBA’s Amazon-assisted save, W.Va. bank failure, BofA’s selective lending: Top stories of the week

04/10/20

After opening-day fiasco, SBA upgrades lender portal with Amazon assist; West Virginia’s First State Bank closed by regulators; BofA offers emergency loans to borrowers first, freezing out depositors; and more from this week’s most-read stories.

[more]

BofA defends giving priority to customers in rescue-loan program

04/10/20

Bank of America, which came under fire for prioritizing applications from existing small-business customers, asked a federal judge in Baltimore to reject a request in a lawsuit to temporarily bar it from employing the practice.

[more]

What does the $600B middle-market rescue plan mean for banks?

04/09/20

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.

[more]

Self-employed set to join loan program already overrun with demand

04/09/20

The week-old Paycheck Protection Program will be opened up to sole proprietors and independent contractors on Friday.

[more]

5 more moves the Fed is making to prop up the economy

04/09/20

Midsize businesses and state and local governments are among the beneficiaries of the central bank's latest $2 trillion effort to mitigate the economic damage caused by the coronavirus pandemic.

[more]

Fed facility gives banks more room to make emergency loans

04/09/20

Many banks were hitting their limits for lending to small businesses devastated by the coronavirus outbreak. They say the Fed's decisions to help fund additional loans and relax capital requirements will resolve many of their problems.

[more]

Chime expands coronavirus stimulus check advances to 100,000 customers

04/09/20

Customers in the challenger bank's pilot program drew down an average of $200 each in advance of the government's $1,200 payments.

[more]

Democrats block McConnell push to boost small-business aid

04/09/20

The maneuver could delay efforts by Senate Majority Leader Mitch McConnell, R-Ky., and Treasury Secretary Steven Mnuchin to add another $250 billion to the Paycheck Protection Program.

[more]

The $2T stimulus isn't a ‘bailout.’ It’s a ventilator.

04/09/20

Critics who argue this crisis mirrors the 2008 financial panic when Congress bailed out banks have it wrong. The new relief package in response to the coronavirus pandemic was necessary to save livelihoods, and more can be done.

[more]