Treasury Department

Fed, Treasury clarify underwriting rules for Main Street loans

09/18/20

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.

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

09/16/20

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.

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DOJ has filed over 50 PPP fraud cases

09/10/20

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.

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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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Carver in New York to finally exit Tarp

07/31/20

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

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Senate passes bill to prevent debt garnishment of CARES Act payments

07/24/20

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.

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

07/22/20

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.

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Supreme Court to take up FHFA constitutionality

07/09/20

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

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House clears extension of PPP to August

07/02/20

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

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

06/30/20

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.

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