Small business lending

CFPB to release outline on small-business data rule

09/14/20

The bureau will detail how it will implement a Dodd-Frank Act provision requiring the agency to collect information on small-business lending in order to identify discrimination.

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JPMorgan finds some workers improperly pocketed COVID relief funds

09/09/20

The bank discovered the actions, all of which were tied to the SBA's Economic Injury Disaster Loan program, after noticing that suspicious amounts of money had been deposited into checking accounts owned by bank employees, according to a person with knowledge of the matter.

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As Fed helps businesses, Democrats ask: What about consumers?

09/09/20

The Senate Banking Committee met Wednesday to review central bank lending facilities such as the Main Street Lending Program, which provides bank-issued loans to middle-market firms. But some lawmakers on the panel said the focus of pandemic relief has been misplaced.

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Lenders press Congress to restart — and revamp — PPP

09/08/20

Bankers and fintech executives want lawmakers returning to Washington to focus on streamlined forgiveness and a second round of Paycheck Protection Program loans for small businesses.

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PPP loans worth billions at risk for fraud, oversight panel says

09/01/20

More than $1 billion in coronavirus relief went to small businesses that received multiple loans and a congressional subcommittee analyzing the Paycheck Protection Program says it has seen evidence of fraud in thousands more loans.

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Huntington pledges $20B to address racial, income inequality

09/01/20

The bank's five-year commitment will focus on providing more capital to small businesses and expanding access to affordable housing and home ownership.

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U.S. Bancorp enlists CDFIs’ help to aid minority entrepreneurs

08/26/20

The Minneapolis company’s partnership with the Black Business Investment Fund and other community development financial institutions is an example of how banks can fulfill multimillion-dollar pledges aimed at closing the racial wealth gap.

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CFPB extends comment period on overhaul of redlining law

08/19/20

The CFPB is giving stakeholders until Dec. 1 to file comments on a potential overhaul to its rules related to the Equal Credit Opportunity Act, which prohibits discrimination in credit and lending decisions.

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Small banks are dominating the Fed's Main Street Lending Program

08/19/20

With big banks largely shunning the program, small banks see an opening to grab more market share in commercial lending.

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French crowdfunding platform courts bank partners to gain U.S. foothold

08/13/20

Ulule is working with Bank of the West to build name recognition. It hopes to collaborate with other banks and credit unions as it vies with larger companies such as Kickstarter and GoFundMe.

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