Members of the Small Business Committee signaled backing for broadening Paycheck Protection Program access for the smallest companies, encouraging participation by nonbank lenders and other improvements. ... Read full article
The bill, which passed the House last week on a 471-1 vote, now heads to President Trump’s desk for his signature. ... Read full article
Lawmakers are pushing for better data on who's receiving loans in hopes that more funds will be directed to lenders that serve women- and minority-owned businesses. ... Read full article
As banks accept new applications for the paycheck program, they are dogged by complaints that they prioritized wealthy borrowers. But lenders likely fast-tracked clients they knew best under difficult circumstances, observers say. ... Read full article
Sen. Marco Rubio, R-Fla., said that $349 billion will likely not be enough meet loan demand from small businesses seeking a lifeline to help them weather the economic downturn brought on by the coronavirus outbreak. ... Read full article
The proposal from Sens. Marco Rubio and Susan Collins would provide the Small Business Administration with $300 billion to help companies hurt by the coronavirus outbreak meet immediate financial obligations, including payroll. ... Read full article
The pace is torrid now, but it could slow if bank stock prices keep rising and one prominent lawmaker’s proposal to restrict share repurchases gains traction. ... Read full article
California and others have passed consumer privacy laws, and lawmakers in Congress are beginning to address the issue. ... Read full article
The legislation would ban legal clauses that force small-business borrowers to give up their right to court proceedings before obtaining a loan. ... Read full article
