Bankers are bracing for accusations of discrimination in the way Paycheck Protection Program loans were allocated.
Banks tend to pull back in times of crisis by tightening credit and focusing on collections efforts. But consumers, and not returns, must be the focus during the coronavirus pandemic.
Lenders implemented stricter underwriting across all loan types in the first quarter as the pandemic upended the economy, the Federal Reserve said in its survey of loan officers.
The Fed has tweaked its Main Street Lending Program to stir more enthusiasm, including the creation of a third financing option for larger companies. Will it make a difference?
Credit unions moved quickly to reduce branch access as the coronavirus crisis worsened. The harder decision will be when and how to begin lifting those restrictions.
Locally sourced campaigns are providing more capital as traditional loans fall short of covering operating expenses.
Credit inquiries for auto lending, revolving credit cards and mortgages fell sharply in March as unemployment surged, according to a Consumer Financial Protection Bureau report.
Regulators need to revamp their proposal to overhaul the Community Reinvestment Act now that the coronavirus outbreak has created unforeseen financial needs.
It's time for agencies like the Small Business Administration to stop playing catch-up and invest in state-of-the art technology.
The Main Street Lending Program, announced on April 9 as an option to help U.S. businesses weather the coronavirus outbreak, will be available to a wider array of companies than previously planned.