Treasury Department

Fed, Treasury clarify underwriting rules for Main Street loans


The Federal Reserve and the Treasury Department released a set of FAQ's aimed to clearing up misconceptions about the Main Street Lending program and encouraging more bank participation.


Fed weighs changes to Main Street program to allay banks' concerns


With only a fraction of the funds allocated being used, Federal Reserve Chair Jerome Powell said the central bank is considering tweaks to the middle-market rescue program in an appeal to lenders wary of taking on added risk.


DOJ has filed over 50 PPP fraud cases


The 57 charges involve $175 million allegedly stolen from the small-business loan program. Defendants are accused of lying on their applications and using funds to buy cars, jewelry and other luxury items.


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


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.


Carver in New York to finally exit Tarp


The Treasury Department has held shares in the Black-run banking company for more than a decade.


Senate passes bill to prevent debt garnishment of CARES Act payments


The legislation, which has yet to pass the House, is meant to ensure coronavirus relief funds go to consumers and are not diverted to debt collectors.


Does Congress have cure for what's ailing CRE borrowers?


Many commercial property owners are locked out of existing coronavirus relief by financing terms that bar them from taking new loans. Under a House bill, they would receive government-backed equity investments.


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.