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The Federal Reserve today clarified its expectations for lenders when underwriting Main Street Lending Program loans.
After officially opening the Main Street Lending Program for lender registration yesterday, Federal Reserve Chairman Jerome Powell said its corresponding Main Street Lending Facility will begin receiving MSLP loans “within a week or so.”
A bipartisan group of senators on Friday wrote to Treasury Secretary Steven Mnuchin and Small Business Administration Administrator Jovita Carranza calling for a more streamlined Paycheck Protection Program forgiveness application process for small firms.
The Federal Reserve today announced several adjustments to the Main Street Lending Program intended to facilitate participation by more small and midsize businesses.
Despite a choppy start to the Small Business Administration’s Paycheck Protection Program over the past week, ABA President and CEO Rob Nichols said he expects to see funds begin to be distributed “at scale” in the coming days.
By looking at recent alternative banking announcements, banks can learn a few things that will help them take their commercial banking to the next level.
Minority-owned businesses were more likely to report financial challenges compared to white-owned businesses, according to a study released today by the Federal Reserve Bank of Atlanta.
A move by the National Credit Union Administration to quadruple the appraisal threshold for nonresidential real estate loans could have broad-reaching consequences for the financial system, according to an op-ed by Appraisal Institute President Stephen Wagner published in American Banker today.