Mnuchin to Let Emergency Credit Programs Lapse
If the economy "really goes South, Mnuchin will go down in history as the man who took away a safety net when it was really needed.”
Employers May Balk at Payroll Tax Holiday
President Trump's tax deferral may be "too complex or impose too much potential liability on [employers] to be worth taking advantage of."
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."
Banks Brace for Crisis Loan Program Rollout
Lenders fear the launch of the $350 billion program could be "a disaster that could dwarf the failed kickoff of the Obamacare enrollment web site in 2013."
Virus Relief Bill Targets $350B for Small Businesses
“We are cautiously optimistic that this will provide the cash flow that small businesses needed yesterday."
Coronavirus Relief Bill Faces Holdup in Senate
GOP senators are concerned the bill's paid sick leave provisions will put too much pressure on small businesses.
Housing Finance Reform Disappoints Investors
A Treasury Department plan would recapitalize Fannie Mae and Freddie Mac and return them to private control.
Mnuchin Warns of Cryptocurrency Security Risks
Facebook's proposed Libra digital currency “could be misused by money launderers and terrorist financiers," the treasury secretary says.
Sears Accuses ex-CEO of Looting $2B in Assets
The bankrupt retailer alleges Eddie Lampert and other investors siphoned off assets for their own gain through fraudulent spinoffs and other deals.
U.S. Frees Prudential From ‘Too Big to Fail’ Label
The Financial Stability Oversight Council's decision means there are no longer any nonbanks subject to stricter, post-crisis oversight.
U.S. Budget Deficit Swells to $779B in FY 2018
The White House blames increased spending for the mounting deficit but its own data "suggest falling revenues were a far larger contributor."