Newsbytes

The Consumer Financial Protection Bureau issued an interpretive rule yesterday clarifying that, due to the COVID-19 emergency, consumers have a...

960,000 PPP Loans Made Through Wednesday Afternoon

As of 5 p.m. EDT today, ABA has learned, the Small Business Administration has approved more than 960,000 round two...

Fed to Hold Rates Near Zero; ‘Very Close’ to MSLP Term Sheet Release

With the coronavirus pandemic continuing to cause significant economic disruptions and sharp spikes in unemployment, the Federal Reserve will maintain...

SBA to Reserve PPP Loan Processing Time Today for Smaller Banks

The Small Business Administration announced this afternoon that it will reserve an eight-hour block of time for lenders with less...

ABA, National Bankers Association Announce Partnership to Strengthen Minority Banks

Community Banking

ABA this morning announced a strategic partnership with the National Bankers Association to promote the health and well-being of minority...

SBA Clarifies PPP’s 10-Day Disbursement Window, Fee Payments

The Small Business Administration tonight issued an interim final rule providing clarity on the 10-day loan disbursement requirement under the...

Bank, Credit Union Groups Call for SBA to Resolve E-Tran Problems

ABA joined eight other trade associations representing banks and credit unions of all sizes and business models today in calling...

CFPB Asks FCC to Facilitate COVID-19-Related Calls

Compliance and Risk

The Consumer Financial Protection Bureau on Monday wrote to the Federal Communications Commission in support of a petition filed by...

SBA: 475K PPP Loans Made as of Tuesday Afternoon

As of 1 p.m. today, the Small Business Administration said it had approved more than 475,000 loan applications submitted by...

SBA Ends Bot Access to E-Tran System