2020-04-09
Upgrade's hybrid loan-card product can now be used without swiping as consumers and retail workers seek to minimize spread of novel coronavirus.
Read More from: BankThink
2020-04-09
This week the Small Business Administration (SBA) released guidance on two important topics of the Paycheck Protection Program: acceptable form of promissory note and required funding periods.
Read More from: Krieg DeVault
2020-04-08
With the government pumping trillions of new spending into the economy, experts are questioning the Federal Reserve's ability to keep prices stable.
Read More from: BankThink
2020-04-08
Closed showrooms, temporary bans on repossessions and a sudden spike in unemployment have dimmed the prospects of a sector that has boomed since the last recession.
Read More from: BankThink
2020-04-08
Third party releases have long been a controversial feature of certain chapter 11 plans. They are neither specifically allowed nor prohibited by the plain language of the Bankruptcy Code.
Read More from: A Texas Bankruptcy Lawyer's Blog
2020-04-08
The agency overhauled its system for the Paycheck Protection Program on Wednesday. Lenders hope it addresses the access issues and a crash that bedeviled the effort’s first week.
Read More from: BankThink
2020-04-08
A bipartisan group of lawmakers wrote in a letter to the Treasury secretary that the Financial Stability Oversight Council should create a liquidity facility to deal with a flood of forbearance requests brought on by the coronavirus pandemic.
Read More from: BankThink
2020-04-08
They have asked the Financial Crimes Enforcement Network, the chief anti-money-laundering regulator, to let them collect customer information and verify it after the loan application is processed in order to speed approvals.
Read More from: BankThink
2020-04-08
Community advocates would like to see changes to the 1977 Community Reinvestment Act, but say regulators should suspend such efforts until the coronavirus pandemic has passed.
Read More from: BankThink
2020-04-08
Pinnacle Bankshares and Virginia Bank Bankshares said the move will let each bank focus more on their response to the COVID-19 pandemic.
Read More from: BankThink
2020-04-08
Lenders and community groups say it's a mistake for the banking agencies to move forward during a national crisis.
Read More from: BankThink
2020-04-08
The Federal Reserve is temporarily altering the growth restriction it placed on Wells Fargo in 2018 so that the bank can make additional loans to small and midsize business that need funding to weather the coronavirus pandemic.
Read More from: BankThink
2020-04-08
The lending facility is for companies with more than 500 employees that are disqualified from the relief program for small businesses and too small for federal loans reserved for larger companies.
Read More from: BankThink
2020-04-08
Toronto-Dominion Bank is moving almost all of its call center employees from 15 different U.S. and Canadian cities to their homes in response to the coronavirus.
Read More from: BankThink
2020-04-08
Spirit of Texas Bancshares named an interim CEO for Dean Bass, though the company said he is recovering.
Read More from: BankThink
2020-04-08
Lawmakers want to expand the two-day old small business loan program by another $250 billion; Calabria says nonbanks are exaggerating their financial woes as forbearance claims rise.
Read More from: BankThink
2020-04-08
The CARES Act provides for direct "rebate" payments to American households. Treasury is gearing up to send some of those payments out soon. But Congress forgot to protect the payments from garnishment.
Read More from: Credit Slips