Watchdog Warns of ‘Significant’ PPP Fraud Risk
The GAO says "minimal" underwriting standards left the $670 billion small business rescue program vulnerable to fraud.
Shining a Light on Earnings Adjustments
Finance will have to make some judgments when trying to present a normalized view of ongoing financial performance.
New Bill Offers Second Loans to PPP Borrowers
“Congress must once again act urgently to support our most vulnerable small businesses through this crisis."
7.7% of U.S. Mortgages Now in Forbearance
Homeowners continue to take advantage of government and bank mortgage forbearance programs amid the coronavirus crisis.
Senators Push for Clarity on Payroll Support After Airlines Threaten Cuts
The lawmakers say that airlines that are involuntarily cutting workers’ hours may be violating the terms of federal coronavirus aid.
Why Shake Shack is Returning $10M Government Loan
The burger chain has faced operating losses of over $1.5 million each week amid the COVID-19 lockdown.
Over 1.6M Small Firms Get Corona Crisis Loans
The Paycheck Protection Program has "enjoyed broad-based participation from lenders of all sizes and a wide array of industries and businesses."
Airlines Accept Terms for Virus Relief Grants
In exchange for accepting the funds, carriers have agreed to prohibitions on stock buybacks and layoffs, and limits on executive pay.
Strings Attached: Guidelines for Seeking Coronavirus Relief Funds
Businesses should be prepared to go through a rigorous process, and in some cases should expect to give up ownership stakes.
Moody’s Sees Potential Recovery in 2nd Half of 2020
But downside risks to growth remain high as the spread of the coronavirus and duration of lockdowns remain “highly uncertain."