Treasury Department

Supreme Court to take up FHFA constitutionality


The high court ruled June 29 that the structure of the Consumer Financial Protection Bureau violated the separation of powers.


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.


Treasury, SBA to disclose identities of large PPP borrowers


The agencies said late Friday that they will provide information on small businesses that received $150,000 or more from the Paycheck Protection Program.


Has leadership vacuum hamstrung CARES Act watchdog?


The inability of Democrats and Republicans to agree on a chairperson and lack of sufficient personnel have made it harder for the commission from doing its job — hold Treasury and the Fed accountable for implementing the coronavirus relief law, observers say.


House Democrats call for more transparency in allocation of PPP funds


In letters to administration officials and large banks, the lawmakers sought details about loan recipients following reports that financial institutions had favored their wealthiest clients.


Congressional scrutiny of PPP grows amid national focus on racism


Evidence suggests some minority-owned businesses can’t access loans, and the Trump administration is under pressure to report borrower demographics. The issue is gaining attention against the backdrop of protests over the George Floyd killing.


Senate Democrats seek simpler loan forgiveness process for PPP


The lawmakers cited concerns from small businesses that the current application to have coronavirus relief loans forgiven is “especially burdensome, time-consuming, and costly.”


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.


As PPP deadline approaches, a few lenders make a final push


Activity in the Paycheck Protection Program has slowed in recent weeks, but Customers Bancorp and Fountainhead Capital continue to pursue loans aggressively in hopes of developing long-term borrower relationships.