Breaking down of Paycheck Protection Program lending by banks in the second quarter (through June 30, 2020), by asset size.
Browsing: SBA Paycheck Protection Program
As Congress negotiates a new round of coronavirus relief, including an extension of the Paycheck Protection Program, ABA and several other banking groups urged senators to provide clarity and enhancements in the legislative text.
The Small Business Administration today released a new set of frequently asked questions regarding the forgiveness of Paycheck Protection Program loans and reflecting recent changes to the program that were included in the PPP Flexibility Act.
The American Bankers Association today wrote to congressional leaders urging them to exempt Paycheck Protection Program forgiveness income from tax reporting.
The bill is expected to significantly reduce the paperwork burden for a vast majority of PPP borrowers.
The American Bankers Association and all 51 state bankers associations wrote to the Treasury Department and the Small Business Administration today urging formal guidance to address confusion regarding fees paid to agents who process PPP applications.
ABA today submitted its recommendations for items that should be included on the Internal Revenue Service’s priority guidance plan—a list of issues that the IRS maintains to monitor and prioritize those requiring additional guidance.
The Small Business Administration today issued a procedural notice providing detailed instructions for Paycheck Protection Program lenders on the PPP forgiveness process.
ABA, the Bank Policy Institute and the Consumer Bankers Association today urged the Small Business Administration and the Treasury Department to create a one-page attestation form for Paycheck Protection Program borrowers with “de minimis” loan amounts to have their loans forgiven.
When COVID-19 accelerated customer movement into mobile and online banking solutions, and triggered consumers to push their funds into bank accounts, banks that had made investments in the digital customer experience were positioned to capitalize.