Lenders want Congress to bring back incentives used during the last recession, such as bigger subsidies and reduced fees, to jump-start participation in the Small Business Administration's flagship 7(a) program.
Just a few months after signaling that provisions for loan losses had peaked, many banks are planning to once again add to reserves to guard against pandemic-related defaults, according to a survey released by IntraFi Network.
The latest report from the American Customer Satisfaction Index reported lower scores for both industries, with credit unions recording their lowest ranking since 2011.
The statement comes after multiple small and midsize institutions earlier this year warned the agencies that the secured overnight financing rate was ill-suited to them.
