As the Small Business Administration prepares to wind down the Paycheck Protection Program at the end of the month, the American Bankers Association and nine other financial services trade called on SBA to clear thousands of loans that are currently on hold before shutting the program down.
More than 10% of respondents in a recent Federal Reserve Bank of Philadelphia survey said they had entered mortgage forbearance at some point during the pandemic, with 6.4% currently in a forbearance plan and 4.1% reporting they had previously been in forbearance since March 1, 2020.
Bankers and CDFIs partner with nonprofits to keep childcare businesses open—especially for America’s vulnerable essential workers.
The Treasury Department today announced that it will invest $9 billion in community development financial institutions and minority depository institutions through the newly established Emergency Capital Investment Program.
As the COVID-19 pandemic turns one, bankers and cyber experts reflect on the rapid rise of scams and fraud schemes aimed at banks and their customers.
One of the earliest U.S. analysts to warn about the novel coronavirus examines the rise in mortality, the accelerated decline in childbirth and early 2020’s pause on marriages and divorces, and what they all might imply for the broader economy.
The Small Business Administration has just issued an interim final rule implementing recent changes to the Paycheck Protection Program.
With the Paycheck Protection Program set to close at the end of March, the American Bankers Association today launched a multi-state radio advertising campaign encouraging eligible small businesses still struggling financially from the pandemic to reach out to banks in their area for a Paycheck Protection Program loan.
The number of homeowners that are behind on their mortgage has doubled since the beginning of the pandemic, with 6% of mortgages in delinquency as of December 2020, according to a new report issued by the CFPB today.
In remarks at a virtual industry event today, Fed Governor Lael Brainard commented on the strong performance of the banking sector during the COVID-19 pandemic, emphasizing that strong capital and liquidity positions will continue to be important as banks continue to face a high degree of uncertainty.