7 Min ReadThe pandemic is introducing changes — potentially significant ones — to the SOX compliance process.
1 Min ReadThe Office of the Comptroller of the Currency will use year-end 2019 asset totals in its calculating its next assessment, saying national banks "should not be penalized" for adding emergency loans to their books during the pandemic.
3 Min ReadTax pros share what they’re telling clients about relief for the jobless during the pandemic.
3 Min ReadThe Trump administration, following a backlash, said it would release details about companies that received loans of $150,000 or more from a coronavirus relief program for small businesses.
6 Min ReadBusiness owners are changing banks at three times normal levels, a trend researchers attribute to their difficulty in obtaining emergency loans. If the forgiveness stage of the Paycheck Protection Program proves arduous, that rate could climb much higher.
3 Min ReadThe Internal Revenue Service provided guidance on expanded eligibility and more.
3 Min ReadThe Small Business Administration and the Treasury Department unveiled a simpler loan forgiveness application for the Paycheck Protection Program to reflect changes under the PPP Forgiveness Act.
5 Min ReadThe lender portal for the Federal Reserve’s Main Street Lending Program has opened as the long-awaited alternative to the problem-plagued Paycheck Protection Program after weeks of delays.
3 Min ReadThe online lender quickly built an app for ride-share drivers with much of their information already filled in.
5 Min ReadThe Internal Revenue Service is giving investors in opportunity zone funds relief from some of the requirements in the controversial program because of the COVID-19 pandemic.
2 Min ReadA backlash is growing among regulators and participants against EBITDA — earnings before interest, taxes, depreciation, amortization and coronavirus.
3 Min ReadIn the midst of a global pandemic, the gravitational pull toward digital transactions has been amplified.
7 Min ReadLenders are cautioning not only that second-quarter provisions might exceed the spike seen earlier this year, but also that credit costs could be elevated into 2021 if the economic slowdown drags on or fears of a second coronavirus wave are borne out.
4 Min ReadThe acting head of the agency says it cannot continue relying on web-based exams put in place during the coronavirus and will start sending staff into banks.
2 Min ReadThe institute released guidance on how to account for forgivable loans under the Small Business Administration’s Paycheck Protection Program.
6 Min ReadAfter initially processing the loans manually, the Minnesota bank turned to "low code" software to build the electronic forms and workflows needed to approve loan applications. The result: a more than fivefold increase in the number of loans it could process in a day.
5 Min ReadAccountants, as well as lawyers and consultants, who helped small businesses apply for emergency relief funds through the Paycheck Protection Program want to be compensated. Are they entitled to be?
6 Min ReadThe economic impact of the coronavirus pandemic could lead to the ongoing expansion of workers’ access to early, or earned wages (EWA) through advances and instant payouts, including to new types of users.
7 Min ReadA fresh look at the Paycheck Protection Program suggests other ways businesses may want to think about it.
4 Min ReadThe global protests in the wake of George Floyd’s death should serve as a reminder that the banking industry must do more to support minority employees and customers.
