Coronavirus

Triumph Bancorp in Texas to sell premium finance unit

04/20/20

The Dallas company also reported a first-quarter loss after the coronavirus outbreak caused "significant deterioration" in its economic outlook.

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Mortgage servicers remain hopeful U.S. will deliver coronavirus relief

04/20/20

Federal backing for firms facing a deluge of missed mortgage payments is still on the table despite recent comments by an official who questioned the need to help the industry.

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Wells Fargo, JPMorgan among banks sued over aid to small businesses

04/20/20

Bank of America and U.S. Bancorp were also named in a lawsuit filed in Sunday in which the banks are accused of prioritizing large loans distributed through the Paycheck Protection Program in order to maximize fees.

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Coronavirus isn’t slowing Truist integration … so far

04/20/20

Executives say they can still meet their goal of $480 million in cost savings this year from the combination of BB&T and SunTrust despite unexpected expenses, unless the economy fails to rebound quickly.

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Ally girds for surge in auto loan defaults

04/20/20

After more than tripling its loan-loss provision, the $182 billion-asset company became the first large U.S. bank to report a quarterly loss as a result of the coronavirus pandemic.

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Small banks could get big break in emergency loan program's next round

04/20/20

Lawmakers are considering a plan to reserve at least $50 billion in Paycheck Protection Program funds for customers of community banks and small regionals.

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Computational Framework for Determining Number of Employees for Eligibility, Qualifying Loan Amount and Forgiveness for a PPP Loan

04/20/20

The Paycheck Protection Program (“PPP”), as enacted under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, provides federally-guaranteed loans up to a maximum amount of $10 million to qualified businesses, which can be fully forgivable, to encourage businesses to retain employees through the COVID-19 crisis by assisting in the payment of certain operational costs.

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Relief efforts favor households, businesses with deep ties to banks

04/20/20

From stimulus checks to the Paycheck Protection Program, the government’s infusion of cash into an economy reeling from the coronavirus pandemic has primarily helped those who already strong banking relationships.

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CRA reform amid coronavirus would fuel discriminatory lending

04/20/20

Minorities are often hit harder financially during a crisis, but if regulators move forward on revamping the Community Reinvestment Act, they’ll only make matters worse.

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White House, Democrats close in on PPP deal; are small fries getting edged out?

04/20/20

The two sides say a deal to replenish the small business loan program may be reached for a Senate vote early this week; big restaurant chains said to edge out small firms for loans.

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