Coronavirus

Industry was strong enough without dividend, buyback curbs: Quarles

02/25/21

The Federal Reserve imposed the restrictions after conducting supplemental stress tests tied to the pandemic. But Vice Chair of Supervision Randal Quarles says it is now clear banks would have had sufficient capital regardless.

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FHFA announces further extension of COVID-related mortgage relief

02/25/21

The agency will allow an additional three months of forbearance for loans backed by Fannie Mae and Freddie Mac, giving homeowners up to 18 months to suspend payments due to the pandemic.

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Bankers plead for answers from SBA on forgiving big PPP loans

02/19/21

The Small Business Administration wants to vet Paycheck Protection Program loans of $2 million or more, but lenders have grown tired of waiting for months with no updates.

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Malvern Bancorp to record bigger provision for troubled New York loan

02/17/21

The move will force the Pennsylvania company to report a bigger loss for its fiscal fourth quarter and restate its annual report with the Securities and Exchange Commission.

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PPP boosts banks' interest in other SBA loan programs

02/12/21

Banks have diverted resources from traditional Small Business Administration lending to make Paycheck Protection Program loans, but many are taking steps to rev up 7(a) and 504 lending once the PPP winds down.

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Most PPP loans going to repeat customers

02/10/21

The majority of Paycheck Protection Program loans are being approved for borrowers in industries that have yet to regain their footing.

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How long should small-business, mortgage aid last?

02/10/21

House Financial Services Committee members were at odds over whether to have support for homeowners and the State Small Business Credit Initiative, both included the $1.9 trillion stimulus plan, expire when the pandemic ends or later.

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American Heritage Credit Union to serve as COVID testing site

02/10/21

The Philadelphia-based institution will host free coronavirus screenings for the public this month as part of a partnership with the Greater Bustleton Civic League.

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FHFA will allow borrowers to prolong forbearance plans

02/09/21

Homeowners still deferring payments on federally backed loans as of Feb. 28 will be permitted to request an additional three months of relief.

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Week ahead: CUNA disbands COVID recovery task force

02/08/21

The working group's final report is still forthcoming, but the trade association has already begun assembling a new team focused on the industry's digitization efforts in the wake of the pandemic.

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