SBA streamlines forgiveness for PPP loans of $50,000 or less


Lenders welcomed the move as a helpful first step but are still urging policymakers to develop a broader, simpler process for expediting the approvals of loans extended to troubled small businesses under the Paycheck Protection Program.


Fed’s Wells Fargo review should consider forbearance snafu: Warren


Customers suffered when they were placed in mortgage relief plans without their consent, the Massachusetts senator says. She urged the Federal Reserve to take the blunder into account as it weighs when to lift other sanctions against the bank.


Powell, Mnuchin urge more congressional action to deliver pandemic aid


Capping a series of appearances on Capitol Hill this week, the Federal Reserve chair and Treasury secretary emphasized that they don’t have the authority to reallocate CARES Act funds to assist small businesses on their own.


Lawmakers urge Fed, Treasury to let CRE borrowers tap Main Street loans


Commercial real estate companies are among those left out of the Federal Reserve’s middle-market relief program, but House members said they need government-backed financing to navigate the pandemic as much as anyone.


Bankers urge extension of CARES Act reg relief


Measures designed to give banks and credit unions more flexibility to help customers weather the coronavirus pandemic are set to expire Dec. 31 unless Congress renews them.


Fed, Treasury clarify underwriting rules for Main Street loans


The Federal Reserve and the Treasury Department released a set of FAQ's aimed to clearing up misconceptions about the Main Street Lending program and encouraging more bank participation.


Fed weighs changes to Main Street program to allay banks' concerns


With only a fraction of the funds allocated being used, Federal Reserve Chair Jerome Powell said the central bank is considering tweaks to the middle-market rescue program in an appeal to lenders wary of taking on added risk.


Changes to NCUA's liquidity tool should sunset at year-end


For all the damage from the pandemic and economic downturn, this crisis has not impacted liquidity. Lawmakers would be foolish to permanently alter the Central Liquidity Facility.


As Fed helps businesses, Democrats ask: What about consumers?


The Senate Banking Committee met Wednesday to review central bank lending facilities such as the Main Street Lending Program, which provides bank-issued loans to middle-market firms. But some lawmakers on the panel said the focus of pandemic relief has been misplaced.


Larger credit unions dominated PPP lending


New analysis from S&P shows only two of the top 20 credit unions that made Paycheck Protection Program loans have assets under $1 billion.