Treasury Department

Tilt toward smallest lenders is latest PPP wrinkle to confound banks

04/29/20

The Small Business Administration's last-minute plan to temporarily block larger banks from the relief loan program is another example of the agency changing the rules midstream, critics said.

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Did banks play favorites in PPP or were they just being prudent?

04/27/20

As banks accept new applications for the paycheck program, they are dogged by complaints that they prioritized wealthy borrowers. But lenders likely fast-tracked clients they knew best under difficult circumstances, observers say.

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Fed’s near-zero rates to last into 2023, economists predict

04/24/20

Economists also expect the Fed's balance sheet to more than $10 trillion as policymakers look to lift the country from a recession brought on by the coronavirus pandemic.

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Mnuchin says U.S. has no plans for mortgage servicer lifeline

04/24/20

The Treasury secretary said recent government moves will help the firms get through the risk of millions of borrowers missing their loan payments.

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Will Congress's coronavirus response watchdog have any teeth?

04/22/20

Financial institutions could testify before the bipartisan commission overseeing the unprecedented economic aid for industries hit by the COVID-19 pandemic. But without subpoena authority, the panel’s impact may be limited.

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Revive the Treasury’s Small Business Lending Fund

04/22/20

The program, created in response to the 2008 financial crisis, generated $19 billion in small-business loans. It could be used as a viable path out of the coronavirus pandemic.

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PPP reload nearing; Treasury eyes blocking stimulus check garnishment

04/21/20

The administration and Congress are said to be close to adding $310 billion to the small business loan program; the department is looking at whether it can prevent banks from seizing government checks.

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GOP senator asks Treasury, Fed for virus-aid details

04/17/20

The head of the Senate panel overseeing Federal Reserve and Treasury Department efforts to boost the U.S. economy urged the agencies to remember their disclosure requirements.

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Banks join calls to shield stimulus checks from debt collection

04/16/20

In some cases, financial institutions are required by court order to divert funds to private creditors. But the industry has added its voice to a consensus for a legislative update to ensure Americans receive their full amount.

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Fed facility gives banks more room to make emergency loans

04/09/20

Many banks were hitting their limits for lending to small businesses devastated by the coronavirus outbreak. They say the Fed's decisions to help fund additional loans and relax capital requirements will resolve many of their problems.

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