First Quarter GDP Plunges 4.8%, Contracting for the First Time Since 2014
Real GDP contracted at a seasonally adjusted annual rate of 4.8% during the first quarter of 2020, according to the...
Economy
SBA to Resume Taking PPP Applications on Monday at 10:30 a.m. EDT
The Small Business Administration will resume taking Paycheck Protection Program loans via its E-Tran platform on Monday morning at 10:30...
ABA Data Bank: Economic Impact Payments Extend a Lifeline to Households
More than three out of four respondents said the economic impact payments included in the CARES Act would either temporarily...
A Tale of Two Countries: The Rapid Urbanization of America
Prior to COVID-19, rural and urban America’s economic paths were diverging. Where they will go next remains to be seen.
New Home Sales Decline 15.4 Percent in March
New single-family home sales fell to a seasonally adjusted annual rate of 627,000 in March, according to the U.S. Census...
Senate Clears $320B in Additional Funding for Paycheck Protection Program
After bipartisan negotiations, the Senate this afternoon unanimously passed legislation to provide more than $320 billion in new funding for...
Nichols: Delaying More PPP Funds Risks ‘Irreparable’ Harm to Small Biz
In a letter to congressional leadership today, ABA President and CEO Rob Nichols called for Congress to move “expeditiously” to...
ABA Data Bank: Bank Economists Expect Deep Q2 Contraction, Followed by Second Half Rebound
Economists' forecasts are based on the public health models projecting that the U.S. COVID-19 pandemic peaks in May.
PPP Funds Exhausted; SBA No Longer Accepting Loan Applications
The $349 billion authorized for Paycheck Protection Program loans has been exhausted, the Small Business Administration said today, and the...
Treasury Confirms PPP Lenders May Use Scanned Documents, E-Sign
The Treasury Department today updated its frequently asked questions on the Small Business Administration’s Paycheck Protection Program to confirm that...
