CARES

Banks Brace For Forbearance Program Expiry Dates
Banks Brace For Forbearance Program Expiry Dates
May 21, 2020  |  Loans

The time is almost up for people who got mortgage forbearance under the CARES Act, but banks can’t predict how many will default of the...

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Mnuchin, Powell To Face Senate Over PPP, Stimulus Funds
Mnuchin, Powell To Face Senate Over PPP, Stimulus Funds
May 19, 2020  |  Loans

Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome Powell will testify remotely before the Senate on Tuesday (May 19) regarding the disbursement of coronavirus...

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Shake Shack Decides To Give Back $10M PPP Loan
Shake Shack Decides To Give Back $10M PPP Loan
April 20, 2020  |  Loans

Shake Shack founder Danny Meyer and chief executive officer (CEO) Randy Garutti said on Monday (April 20) that they are returning the $10 million Paycheck...

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Mnuchin: Deal On New PPP Funding Near
Mnuchin: Deal On New PPP Funding Near
April 19, 2020  |  Coronavirus

Treasury Secretary Steven Mnuchin, along with Democratic leaders, said they are close to closing a deal that would lend more money to small businesses struggling...

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Some Banks Seize Stimulus Money To Cover Customer Overdrafts
Some Banks Seize Stimulus Money To Cover Customer Overdrafts
April 17, 2020  |  Banking

Some cash-strapped people are losing some or all of their coronavirus stimulus money because their bank accounts are overdrawn. “For weeks, we have pressed the...

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SMB Aid Running Out As Stalemate Continues
SMB Aid Running Out As Stalemate Continues
April 14, 2020  |  SMBs

Leaders on Capitol Hill were still at an impasse on Monday (April 13) over additional coronavirus relief as the current funding dwindles and is expected...

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Wells Fargo To Cap SMB Bailout Loans at $10 Billion
Wells Fargo To Cap SMB Bailout Loans at $10 Billion
April 06, 2020  |  Loans

Wells Fargo announced it will begin taking loan applications on Monday (April 6) as part of the Paycheck Protection Program (PPP) and will disperse $10...

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