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.
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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.
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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.
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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.
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2020-04-08
Lenders and community groups say it's a mistake for the banking agencies to move forward during a national crisis.
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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.
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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.
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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.
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2020-04-08
Spirit of Texas Bancshares named an interim CEO for Dean Bass, though the company said he is recovering.
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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.
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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
2020-04-08
OakNorth helps banks analyze credit, identify pandemic-related risks and forecast borrower issues before they turn into defaults.
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2020-04-07
Measures that delay the Current Expected Credit Losses standard and reduce a community bank capital ratio are temporary, but the industry now sees an opening to argue that they should be permanent.
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2020-04-07
Firms that spread big-dollar deposits to community banks have seen a rush in demand as small businesses seek emergency loans to weather the coronavirus pandemic.
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2020-04-07
The Small Business Administration said lenders approved $71 billion in loans from the Paycheck Protection Program in less than five days.
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2020-04-07
President Trump on Tuesday praised some of the country's largest financial firms for pledging to take new steps to help small businesses disrupted by the coronavirus.
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