CARES Act

Sharp divide between large and small credit unions in PPP lending

08/27/20

New analysis from S&P found that only two of the of the top 20 credit unions that participated in the Paycheck Protection Program loans had assets of less than $1 billion.

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Agencies extend freeze on foreclosures and evictions to end of year

08/27/20

Both the Federal Housing Finance Agency and Federal Housing Administration are extending relief for homeowners and renters due to the pandemic crisis.

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Regulators finalize rule changes to help banks weather pandemic

08/26/20

The agencies completed steps to ease a community bank capital measure temporarily and to delay a new credit-loss accounting standard.

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Small banks are dominating the Fed's Main Street Lending Program

08/19/20

With big banks largely shunning the program, small banks see an opening to grab more market share in commercial lending.

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Demand for Fed's Main Street loan program is growing, Rosengren says

08/12/20

The head of the Federal Reserve Bank of Boston said the central bank had acquired stakes in 32 business loans as of Monday, four times the amount from two weeks earlier.

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Oversight panel questions value of Fed loan program for midsize firms

08/07/20

At its inaugural hearing, the committee appointed by lawmakers to oversee CARES Act implementation pressed for answers about why the Main Street Lending Program is off to such a slow start.

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Few companies have tapped the Fed's Main Street program

08/06/20

Just eight loans had been made as of late July, six of them through a single community bank in Florida, according to new data on the federal rescue program for small and midsize companies hurt by the pandemic.

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Household debt falls for first time since 2014

08/06/20

Credit card balances declined most sharply as consumers cut back their spending due to the coronavirus pandemic and associated shutdown orders, the New York Fed said Thursday. But delinquencies also fell across all debt categories, thanks to government and lender relief efforts.

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Fed's Powell makes case why Congress should relax bank capital rule

07/29/20

As Senate Republicans consider a new coronavirus relief package, the Federal Reserve chairman said easing the so-called Collins amendment would help financial institutions support the economy.

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Will GOP plan to slash unemployment aid trigger wave of loan defaults?

07/28/20

The enhanced jobless benefits in the coronavirus relief law enacted in March helped limit delinquencies and maintain consumer spending, analysts say. In their follow-up stimulus plan, Senate Republicans want to cut those benefits from $600 to $200 a week.

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