Treasury Department

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.


After PPP reform, more flexibility but same complexity


Bankers said legislative fixes to the small-business rescue program should help more borrowers secure loan forgiveness, though new demand will likely remain tepid because the process is still extremely cumbersome.


Senate passes changes to small business PPP loan program


The bill, which passed the House last week on a 471-1 vote, now heads to President Trump’s desk for his signature.


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.