Treasury Department

Senate bill would ban garnishment of relief funds by debt collectors

05/24/20

The new legislation directs the Treasury Department to protect electronic payments that Americans receive through the pandemic rescue package.

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SBA issues guidance on PPP loan forgiveness

05/24/20

The new Paycheck Protection Program rules, which created a review process and timeline for paying lenders, did not extend the time borrowers have to comply or increase how much money can be spent nonpayroll expenses.

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An insider account of JPMorgan's PPP approach

05/21/20

Jennifer Roberts, the company's head of business banking, details a process to have units work one-on-one with customers to get Paycheck Protection Program funds deployed faster.

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Treasury using prepaid cards to speed delivery of stimulus payments

05/19/20

Nearly 4 million households that were to be mailed paper checks will instead receive their pandemic relief aid via prepaid debit cards issued by MetaBank.

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

05/19/20

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.

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The Fed should tailor its business loan programs for consumers

05/12/20

The Term Asset-Backed Securities Loan Facility is just one example of a fund that could be retooled.

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Lenders worry they could be stuck with billions in PPP loans

05/11/20

Banks could end up holding many low-rate Paycheck Protection Program loans on their books for two years, and dealing with irate borrowers who failed to meet federal requirements for forgiveness.

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Bankers fear massive borrower fraud in PPP

05/07/20

Up to 12% of loans under the $660 billion small-business rescue program could be tied to misleading or completely phony applications, fueling concerns about lenders' potential liability.

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Coronavirus prompts renewed calls for postal banking, faster payments

05/05/20

Millions of Americans have yet to receive their stimulus checks, leading progressives to demand reforms improving underbanked consumers’ access to the financial system.

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Nominee to oversee pandemic rescue funds grilled over Trump ties

05/05/20

As special IG for the Treasury’s allocation of $500 billion in aid, Brian Miller could look into funding for Fed credit facilities. But Democrats on the Senate Banking Committee questioned his independence.

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