Bankruptcy Blogs

Small banks hope relief efforts lead to big gains in market share

04/27/20

Community banks that have used the Paycheck Protection Program to help businesses ride out the coronavirus outbreak are looking to turn that goodwill into deeper loan and deposit relationships down the road.

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Wells Fargo hires new operations head from BNY Mellon

04/27/20

Lester Owens, who is scheduled to join the bank in July, will report to Chief Operating Officer Scott Powell. He will be charged with implementing a more unified structure across the 260,000-person company.

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Ounce of prevention was no pound of cure for PPP 2.0

04/27/20

Queued-up loans. Extra bankers. Government tweaks to promote fairness. None of these precautionary measures has been enough for the second round of the Paycheck Protection Program to avoid the pitfalls of the first.

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Fed opens Municipal Liquidity Facility to smaller cities and counties

04/27/20

The central bank expanded the reach of the program as pressure mounts on the government to support localities struggling economically because of the coronavirus pandemic.

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Did banks play favorites in PPP or were they just being prudent?

04/27/20

As banks accept new applications for the paycheck program, they are dogged by complaints that they prioritized wealthy borrowers. But lenders likely fast-tracked clients they knew best under difficult circumstances, observers say.

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Digital banking is surging during the pandemic. Will it last?

04/27/20

Use of banks' mobile apps and websites has risen about a third since the coronavirus crisis began, according to J.D. Power.

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Second small-business relief program overwhelmed at start, lenders say

04/27/20

The Small Business Administration's systems froze up shortly after the latest Paycheck Protection Program was launched Monday morning.

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Fannie, Freddie won’t require lump-sum forbearance repayments

04/27/20

The FHFA's director said the announcement is meant to “combat ongoing misinformation” about efforts to let homeowners skip mortgage payments due to the coronavirus pandemic.

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The American payment system was ready for the coronavirus pandemic

04/27/20

The modern-day payment system was, over the last two decades, tailor-made for the shelter-in-place conditions many now live and work under today.

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Banks prepare for PPP 2.0 onslaught; mortgage lenders struggle with demand

04/27/20

Lenders and small businesses are hoping this round goes more smoothly than the chaotic first one (and if it doesn't, Joe Biden warns, many mom-and-pop shops are done for); originators are adding staff, cutting marketing to handle massive uptick in refinance applications.

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