Paycheck Protection Program

Justice Dept. asks United Community for PPP documents

06/02/20

The Georgia company said the agency is looking at its policies for paying, or withholding, Paycheck Protection Program fees to borrowers' agents.

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Banks have a mountain of deposits, so they don’t need PPP funding

06/01/20

The Federal Reserve set up a liquidity facility to help banks meet demand for emergency small-business loans through the Paycheck Protection Program, but it's gone largely unused.

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SBA looks to CDFIs in PPP lending; U.K. banks worried about ‘PR disaster’

06/01/20

The agency is trying to get small lenders to help underserved businesses get the loans; although the British government is guaranteeing small business loans, banks are required to collect on delinquents.

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PPP loan forgiveness, BofA’s cost cutting, Amex’s cloud commitment: Top stories of the week

05/29/20

The SBA issues guidance on Paycheck Protection Program loan forgiveness; after staffing up for PPP, Bank of America may need to delay investments to meet cost targets; American Express has leaned hard on cloud tech to help employees work at home during the pandemic.

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The reasons some banks have a hard stop on PPP lending

05/29/20

Many lenders are paying close attention to liquidity and capital ratios. Others are trying to avoid overtaxing employees who process, service and handle forgiveness of the loans.

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House passes PPP revisions; on Otting's day of departure, a CRA reflection

05/29/20

The bill, which now goes to the Senate, would give small businesses greater flexibility in how they use the funds; not everyone's on board with Otting's signature achievement.

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Mark Cuban, banker Jill Castilla create site to streamline PPP

05/28/20

The pair created a website that will help borrowers in the Paycheck Protection Program apply for loan forgiveness.

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House passes bill giving firms more time to use PPP loans

05/28/20

The measure, which garnered near-unanimous support, would triple the period during which businesses can spend their coronavirus relief funds and make it easier for loans to be forgiven.

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SBA designates $10 billion in Paycheck Protection loans for CDFIs

05/28/20

The funds include $3.2 billion in loans that community development financial institutions had already approved during the PPP's second phase.

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BofA looks to rein in costs after staffing up for PPP

05/27/20

Expenses soared in the rush to deploy emergency loans to small businesses, and now Bank of America may need to delay some investments if it hopes to meet cost targets, CEO Brian Moynihan said

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