Bankruptcy Blogs

Small banks could get big break in emergency loan program's next round

04/20/20

Lawmakers are considering a plan to reserve at least $50 billion in Paycheck Protection Program funds for customers of community banks and small regionals.

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Computational Framework for Determining Number of Employees for Eligibility, Qualifying Loan Amount and Forgiveness for a PPP Loan

04/20/20

The Paycheck Protection Program (“PPP”), as enacted under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, provides federally-guaranteed loans up to a maximum amount of $10 million to qualified businesses, which can be fully forgivable, to encourage businesses to retain employees through the COVID-19 crisis by assisting in the payment of certain operational costs.

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Now That Everyone Is on the Standstill Bandwagon ... Where to? Part I

04/20/20

A sovereign debt standstill might not cure COVID-19, but it sure seems like the one thing we can all agree on.

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Relief efforts favor households, businesses with deep ties to banks

04/20/20

From stimulus checks to the Paycheck Protection Program, the government’s infusion of cash into an economy reeling from the coronavirus pandemic has primarily helped those who already strong banking relationships.

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CRA reform amid coronavirus would fuel discriminatory lending

04/20/20

Minorities are often hit harder financially during a crisis, but if regulators move forward on revamping the Community Reinvestment Act, they’ll only make matters worse.

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White House, Democrats close in on PPP deal; are small fries getting edged out?

04/20/20

The two sides say a deal to replenish the small business loan program may be reached for a Senate vote early this week; big restaurant chains said to edge out small firms for loans.

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PSLF update

04/20/20

The success rate for Public Service Loan Forgiveness applicants has doubled. From 1% to 2%.

Thinking they have completed their 10 years of payments, 140,000 student loan borrowers had applied for cancellation through February 29, and about 3,000 had received a discharge, including 1,300 under the “temporary expanded” PSLF who were put in the wrong repayment plan by their servicers.

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Banks’ digital upgrade plans unshaken by coronavirus

04/19/20

Citizens, Regions and others say business investments initiated before the COVID-19 pandemic, including technology improvements and new consumer offerings, are on track.

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Crapo to lead Senate's oversight of coronavirus rescue

04/17/20

The Senate Banking Committee chair will work with the heads of other panels in overseeing the $2 trillion stimulus package that Congress passed last month.

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Wells Fargo adds new top lobbyist to help revive image in Washington

04/17/20

Brian Smith, who spent the past decade with Regions Financial, will head the bank's government relations and public policy team.

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