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The Paycheck Protection Program has provided loans to almost half of businesses in every state – and in some it has reached much more
Authorities have inquired about Wells Fargo’s handling of PPP loans, according to a regulatory filing
The Fed is boosting several pandemic aid programs, including the PPP, as data shows more than half of its first expansion has been used up
New York-based Signature Bank says roughly 14% of its loan book is seeking to defer payments as the pandemic challenges cashflow
Bank of America was sued by plaintiffs alleging that the bank violated the CARES Act by prioritizing borrowers with existing lending relationships and did not allow applicants without such relationships…
Pressure and opportunity combine to bring large banks home
Lawsuit alleges unfair business practices by prioritizing borrowers who were seeking larger loan amounts rather than a good faith effort to take business on a first come first serve basis
$248 billion has already been loaned to small businesses across the US, according to new data
Banks will need to process approximately 50 times their normal annual volume in the next 30-60 days under the Paycheck Protection Program
Banks are continuing to explore ways of supporting local communities, customers, and medical staff during the pandemic
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