Coronavirus

Banks lobby Congress to postpone PPP deadline

03/03/21

The Small Business Administration is still writing rules for the Paycheck Protection Program two months after its relaunch. Lenders fear they may not have enough time to review those rules before the program’s March 31 expiration date.

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JPMorgan seeks to reduce office space in two Manhattan towers

03/02/21

JPMorgan Chase is marketing big blocks of office space in Manhattan as companies reevaluate their need for real estate amid the COVID-19 pandemic, according to people with knowledge of the matter.

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Looming risk for borrowers, renters when relief ends, CFPB says

03/01/21

In an analysis of the pandemic's impact on the housing market, the agency said nearly 10% of households could be at risk of eviction or foreclosure despite government programs to enable homeowners to delay their payments.

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Dimon sees ‘carrots and sticks’ approach to COVID vaccines

03/01/21

While JPMorgan Chase’s chief executive would like the bank’s employees to get the COVID-19 vaccine, he said it’s unlikely to require the shots at least for now.

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How the pandemic has changed small banks' views of CRE

02/28/21

Community banks, which for years have relied heavily on commercial real estate lending, have been tightening underwriting standards, conducting more-frequent loan reviews and stepping back from certain subsectors to minimize their credit exposure.

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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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