ABA, State Associations to Congress: Include ECORA Act in Next Relief Package
As Congress contemplates additional coronavirus relief legislation, the American Bankers Association and the 51 state bankers associations today wrote to...
Policy
Fed Expands PPP Liquidity Facility’s Eligible Participants, Collateral
The Federal Reserve today expanded access to its Paycheck Protection Program Liquidity Facility to nonbank lenders and expanded the range...
Bipartisan Letter Urges SBA to Reserve Funds for Regular 7(a) Loans
Noting that the recent bill adding funds to the Paycheck Protection Program as part of the Small Business Administration’s 7(a)...
Fed Expands Scope of ‘Main Street’ Program with ABA-Urged Changes
The Federal Reserve today expanded the scope of its Main Street Lending Program to accommodate more businesses and more loan...
SBA Limits PPP Funds for Corporate Groups to $20 Million
In an interim final rule today, the Small Business Administration said it will limit the amount of Paycheck Protection Program...
CFPB Announces Relief From TRID, Reg Z Waiting Periods
The Consumer Financial Protection Bureau issued an interpretive rule yesterday clarifying that, due to the COVID-19 emergency, consumers have a...
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...
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
The Small Business Administration has restricted the use of robotic processing automation, or RPA, to enter Paycheck Protection Program loan...
Mnuchin: SBA to Review PPP Loans Over $2M
The Small Business Administration will conduct a “full audit” of Paycheck Protection Program loans made in amounts over $2 million...
