McWilliams: Banks Should Rely on Borrower Certifications When Making PPP Loans
FDIC Chairman Jelena McWilliams today confirmed that banks should rely on borrowers’ statements certifying that their economic need is legitimate...
Policy
Quarles Praises Financial Industry Performance During Pandemic in Senate Testimony
The financial industry entered the coronavirus pandemic in a position of strength and has continued to support lending to businesses...
IRS: 130M Economic Impact Payments Distributed to Americans
A total of 130 million Americans received economic impact payments totaling more than $200 billion within the first four weeks...
ABA Urgently Calls for PPP Loan Forgiveness Guidance
ABA today urged the Treasury Department and Small Business Administration to issue, as soon as possible, “clear, bright-line guidance” on...
Agencies Provide Relief for Banks Participating in PPP, Money Market Liquidity Facilities
To facilitate banks’ participation in the Paycheck Protection Program Liquidity Facility and the Money Market Mutual Fund Liquidity Facility, the...
ABA Calls for Greater Clarity on Criminal Penalties in OCC’s Licensing Standard
In a comment letter to the OCC yesterday, ABA offered feedback on recent proposed changes to the agency’s licensing policies...
SBA Offers Clarity for PPP Borrowers Attempting to Rehire Employees, Nonprofit Hospitals
The Small Business Administration and Treasury Department last night confirmed that Paycheck Protection Program borrowers who attempt to rehire employees...
The Big Brain in the Black Box
AI, machine learning and alternative data are helping banks and nonbanks alike make faster decisions and expand access to credit....
Senators: PPP Borrowers Need Information on Loan Forgiveness
Paycheck Protection Program borrowers, as well as their lenders, are operating without adequate understanding of how their loans will be...
Bonus Podcast: Overview of the Main Street Lending Program
As part of its response to the global coronavirus pandemic, the Federal Reserve is launching a "Main Street Lending Program"...
