Nichols Calls for Adjustments to KYC Rules to Facilitate PPP Loans
Temporary adjustments to “know your customer” and anti-money laundering requirements are “key” to speeding up the rate at which banks...
Policy
SBA, Treasury Clarify Beneficial Ownership Requirements for PPP Loans
The Small Business Administration and Treasury Department provided guidance today clarifying lenders’ obligations to collect beneficial ownership data when making...
ABA Asks FCC to Provide Immediate Relief to Facilitate COVID-19-Related Calls
As banks seek to contact customers with COVID-19-related information, the American Bankers Association asked the Federal Communications Commission on Friday...
Lawmakers Call for Flexibility on PPP’s 10-Day Disbursement Rule
A bipartisan group of lawmakers wrote to Treasury Secretary Steven Mnuchin and SBA Administrator Jovita Carranza on Friday urging them...
SBA, Treasury Provide Guidance on Final Authorization of PPP Loans
The Small Business Administration and the Treasury Department last night updated their Paycheck Protection Program FAQ document to address a...
CFPB Provides Remittance Rule Relief Through 2020
As part of its policy response to the coronavirus pandemic, the Consumer Financial Protection Bureau today said it would provide...
Quarles: Fed to Consider Performance Through Pandemic in Stress Tests
The Federal Reserve will incorporate banks’ performance in the economic fallout of the coronavirus pandemic into the ongoing 2020 stress...
Treasury, IRS: Economic Impact Payments to Begin Next Week
As required by the CARES Act, the Treasury Department and the IRS will begin issuing economic impact payments to Americans...
Nichols Discusses Industry Progress on PPP Loans in Bloomberg Radio Interview
The nation’s banks are playing a vital role in delivering coronavirus relief funds to struggling businesses, American Bankers Association President...
Fed Unveils $2.3 Trillion More in Lending Capacity, Details ‘Main Street’ Program
The Federal Reserve is deploying its emergency lending powers to “an unprecedented extent,” Federal Reserve Chairman Jerome Powell said in...
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