The company seeks to help funnel more loans to minority businesses and consumers; the regulator says short-staffed banks are having trouble handling new government programs.
The extension to Aug. 8 was offered by Senator Ben Cardin, a Maryland Democrat, and cleared the chamber by unanimous consent. The House has yet to take up the bill but could pass it as soon as Tuesday night.
Lenders are selling their Paycheck Protection Program loans or hiring outside companies to navigate the process in an effort to reduce risk and avoid overloading their employees.
Supreme Court says the president has the power to remove the director at will; the bank is the only one of the six largest U.S. banks to say they will cut their dividend next quarter.
Wells Fargo customers targeted with phishing attacks using calendar invites; Fed freezes stock buybacks, caps dividends after stress test results; Citigroup names Titi Cole its head of global operations and fraud prevention.
The Paycheck Protection Program had more than $100 billion in funding left as of last Saturday, with only days remaining until the Small Business Administration stops taking new applications on June 30.
The payments company is buying Finicity, which powers platforms for Rocket Mortgage and others; the small N.J.-based lender to fintechs is the fourth largest PPP provider.
