Steven Mnuchin

House clears extension of PPP to August


The Senate had passed the bill Tuesday, shortly before the Small Business Administration was to stop accepting new loan applications.


Banks 'not getting a ton of interest' in Main Street program: Powell


Federal Reserve Chairman Jerome Powell said about 300 lenders have signed on to the program and that the central bank is committed to making adjustments that could attract more borrowers.


Key senators support more small-business relief


Members of the Small Business Committee signaled backing for broadening Paycheck Protection Program access for the smallest companies, encouraging participation by nonbank lenders and other improvements.


SBA designates $10 billion in Paycheck Protection loans for CDFIs


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


4 takeaways from Senate grilling of Mnuchin, Powell on relief plans


Members of the Banking Committee pressed the Treasury secretary and Fed chief to ensure CARES Act funds are deployed as Congress intended. They also debated the need for more stimulus to ease the economic effects of the coronavirus.


N.Y. targets loan website that even confused Mnuchin


A small Texas company that profits from loan applications is using a web address so similar to the Trump administration's portal for small businesses that even Treasury Secretary Steven Mnuchin pitched the wrong one when outlining a pandemic-aid program.


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


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


Mnuchin wants an apology; investors flee Wirecard


Treasury secretary says big firms that took PPP loans should apologize, not just return the money; German fintech’s shares drop 26% as audit fails to rebut accounting fraud allegations.


Mnuchin says U.S. has no plans for mortgage servicer lifeline


The Treasury secretary said recent government moves will help the firms get through the risk of millions of borrowers missing their loan payments.


White House, Democrats close in on PPP deal; are small fries getting edged out?


The two sides say a deal to replenish the small business loan program may be reached for a Senate vote early this week; big restaurant chains said to edge out small firms for loans.