Six in 10 lenders saw an increase in small and midsize business lending fraud over the past two years, according to a study from LexisNexis Risk Solutions, with an average increase of 7.3%.
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Localities that lost a bank headquarters in a merger saw declines in local charitable contributions and volunteer service, Federal Reserve Governor Michelle Bowman said today, citing a Fed review of Community Reinvestment Act exam reports before and after bank acquisitions.
The Senate today approved a $99 million subsidy to fund the Small Business Association’s 7(a) loan program for the 2020 fiscal year, successfully avoiding a shutdown of the program that would have otherwise taken place on Oct. 1.
As part of the Small Business Access to Capital Coalition, ABA called on congressional leaders to address a potential funding gap that could bring operations of the Small Business Administration’s 7(a) business lending program to a halt next month.
Fewer non-employer firms—those without full-time or part-time employees on payroll, which account for 81% of U.S. small businesses—reported profitability in 2018 than employer firms did, according to Small Business Credit Survey figures released today by the Federal Reserve Bank of New York.
The second quarter saw substantially stronger demand for residential mortgage loans, according to the Federal Reserve’s latest senior loan officer opinion survey released today.
The Small Business Administration today issued a proposed rule to implement recent ABA-supported legislation to strengthen the agency’s oversight of its loan programs and increase maximum lending authority.
The Basel, Switzerland-based Financial Stability Board today released for consultation an analysis of the effects of post-crisis regulation—specifically the Basel III capital and liquidity requirements—on lending to small and medium-sized enterprises.
A small net percentage of banks reported easing standards and terms for loans to large and midsize firms in the previous quarter, while on net no banks eased standards for small businesses, according to the Federal Reserve’s latest senior loan officer opinion survey released today.
Seven in 10 small business owners are more optimistic than pessimistic, according to the latest Wells Fargo/Gallup survey of small business owners.