Credit

Credit

PPP Reopens With $284B for Small Business Loans

The revamped COVID-19 relief program also allows some companies to apply for a second draw of up to $2 million.
Credit

Congress Includes PPP Extension in New Relief Bill

PPP borrowers will also be able to deduct expenses paid for with their loans, reversing an earlier IRS decision.
Credit

Capital One Halts Buy-Now-Pay-Later Credit Card Transactions

The company said the rapidly growing market was risky for consumers.
From the Editor

2021 Wish List

Remote work, small businesses, the federal government's balance sheet, health care — they will all require attention.
Credit

Mnuchin to Let Emergency Credit Programs Lapse

If the economy "really goes south," the Treasury Secretary "will go down in history as the man who took away a safety net when it was really needed.”
Capital Markets

China’s Negative Yield Bond Gets Positive Response

The strong demand "shows investors are still underexposed to China and there definitely is a scarcity value perceived in these bonds"
Credit

PPP “Loan Necessity” Form Causes a Stir

A questionnaire asking borrowers to justify their $2 million-plus Paycheck Protection Program loans is confusing and burdensome, says the AICPA.
Credit

Main Street Program Gets First Nonprofit Borrower

The Sun Belt Conference's commissioner believes its $4.4 million loan from the Fed program is "really going to help us do what we need to do."
Credit

Rocket Companies Revenue Up 163% in Record Q3

The parent company of Rocket Mortgage and Quicken Loans reported adjusted revenue of $4.74 billion.
Credit

Banks Report Tightening Loan Standards in Q3

A Fed survey shows banks are continuing to raise the bar for lending in response to worsening economic conditions.
Credit

Court Orders Release of PPP Borrower Details

The decision was a victory for media organizations that sued the SBA for access to data about roughly $600 billion in COVID-19 loans to small businesses.
Regulation

Nebraska Voters OK 36% Cap on Payday Loan Interest

“This is a huge victory for Nebraska consumers and the fight for achieving economic and racial justice."
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