Paycheck Protection Program

Congress wants to extend PPP, lenders ready to move on

07/21/20

Many bankers want to focus more on the forgiveness process, assessing the status of deferrals and pursuing traditional lending opportunities.

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Coronavirus resurgence weighs on Synovus

07/21/20

The Georgia company warned that outstanding loans could fall and deferrals will likely rise as its home state and Florida grapple with the pandemic.

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Zions braces for loan charge-offs in industries hard hit by pandemic

07/21/20

Loans to retailers and hotels are at the highest risk of default, the Salt Lake City company said in its second-quarter earnings presentation.

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Abundance of deposits tests bankers

07/17/20

Government stimulus efforts, including the Paycheck Protection Program, have fueled a deposit surge. The challenge for banks is figuring out how to put that new money to use.

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Mnuchin says U.S. should weigh forgiving all ‘small’ PPP loans

07/17/20

Treasury Secretary Steven Mnuchin did not define "small," but advocates have been urging Congress to convert all Paycheck Protection Program loans of less than $150,000 into grants.

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Credit union joins list of lenders selling PPP originations

07/15/20

Greater Nevada Credit Union, like a number of community banks, agreed to sell its Paycheck Protection Program loans to avoid navigating the complicated forgiveness process.

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PPP data errors raise questions about effectiveness of stimulus

07/13/20

A Bloomberg News analysis shows that the data for Paycheck Protection Program loans totaling more than $521 billion released on July 6 are riddled with anomalies.

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PPP spotlights shortcomings in credit unions' small-business push

07/10/20

For all banks' claims that credit unions pose a threat to their commercial lending market share, they've accounted for just 2% of volume in the Paycheck Protection Program.

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Banks seek more fintech help for PPP's next phase

07/10/20

After tech firms assisted community bankers in processing applications in the Paycheck Protection Program, small-business lenders are continuing to engage with cloud providers and other outside companies to automate the loan forgiveness process.

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Carnegie Hall got rescue aid, but not your favorite food cart

07/09/20

Paycheck Protection Program loans were out of reach for the myriad of cash-based enterprises or underfunded businesses that are key to economic growth in the country. This could change the very fabric of New York City, with businesses that were part of people's everyday life disappearing.

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