Paycheck Protection Program

PNC seeks ‘bulletproof’ balance sheet; hard-hit bank stocks rebound

05/15/20

The regional wants to “play offense” with the proceeds of its $17 billion BlackRock stake; shares of some bank shares jumped 6% Thursday but remain well behind the rest of the market.

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Fed reprimands Deutsche Bank; Senate Democrats want PPP answers

05/14/20

The German bank’s money laundering controls are still not up to snuff, among other problems; three Democrats say banks may have shortchanged small-business borrowers.

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SBA backs off legal threat against firms that didn’t need PPP loans

05/13/20

The agency said Wednesday that as long as small businesses return funds they received through the Paycheck Protection Program, no action would be taken.

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Fed can do only so much to limit pandemic's economic hit: Powell

05/13/20

The head of the U.S. central bank said its emergency credit programs were not designed to prop businesses up over the long term.

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JPMorgan to offer banking to crypto exchanges; news services sue SBA

05/13/20

The move is the first time the bank has provided services to digital currency players; the Washington Post and four other heavy hitters want details on PPP and small business disaster loan programs.

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FDIC proposes removing PPP loans from premium formula

05/12/20

The agency said without further action banks' participation in coronavirus relief programs could inflate their deposit insurance assessments.

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SBA raises lending limit for potential PPP successor

05/12/20

SBA Express has existed for years, but its new $1 million cap could prove helpful to small businesses that need funds for more than just payroll expenses.

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Democrats lay into OCC chief for pushing ahead with CRA rule

05/12/20

At a Senate hearing with all the bank regulators, Joseph Otting got an earful over his agency’s decision to move forward with Community Reinvestment Act reform during the pandemic. Lawmakers also urged the Fed to speed up the rollout of coronavirus relief programs.

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Fed to release more details on participants in emergency programs

05/12/20

The central bank will disclose information on a monthly basis about its Term Asset-Backed Securities Loan Facility and its Paycheck Protection Program Liquidity Facility.

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