Fed to Establish Facility for Financing SBA PPP Loans
In order to facilitate loans being made through the Small Business Administration’s Paycheck Protection Program, the Federal Reserve today said...
Policy
Agencies Temporarily Lower Community Bank Leverage Ratio to 8%
As required by Section 4012 the CARES Act, the federal banking agencies today temporarily lowered the community bank leverage ratio,...
Mnuchin, Top SBA Officials Answer Banker Questions on PPP
With banks across the country working through the weekend to make and fund loans through the Small Business Administration’s Paycheck...
Key SBA Form, Plus New ABA Resources on Paycheck Protection Program, Now Available
The Small Business Administration today published Form 3506, which banks must submit in order to receive delegated authority to issue...
FATF Upgrades Assessment of U.S. Regarding Beneficial Ownership Framework
In a significant development for the industry, the Financial Action Task Force recently upgraded its assessment of the United States’...
House Lawmakers: Ag Businesses Should Qualify for Emergency Grants
In a letter to U.S. Small Business Administration Administrator Jovita Carranza yesterday, a group of House lawmakers urged SBA to...
SBA Increases Rate, Clarifies Terms on Paycheck Protection Program Loans
The Small Business Administration today issued an interim final rule that provides additional implementation guidelines and requirements for its Paycheck...
ABA Supports Proposed Regulatory Reforms to Volcker Rule’s ‘Covered Funds’ Provisions
In a comment letter to the federal banking agencies today, the American Bankers Association supported a proposal to amend the...
Treasury Issues Guidelines, Application Form for SBA Paycheck Protection Program
The Treasury Department today issued much-anticipated guidance for the Paycheck Protection Program, which starting this week will provide up to...
Fed to Delay Implementation of Revised Bank Control Framework
The Federal Reserve announced a six-month delay for the implementation of its revised framework for determining control of a company...
