The U.S. Department of Justice is conducting a civil probe into whether some FinTechs distributing federal Payroll Protection Program relief botched loan sizes, Reuters reported, citing numerous unnamed sources. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access...
Banks have softened standards for household and commercial loans in the first quarter of 2021, following a year-long trend of tightening due to the economic effects of the coronavirus pandemic. Get the Full Story Complete the form to unlock this article and enjoy unlimited free...
U.K. banks are bracing for an avalanche of requests by businesses to extend terms for the Bounce Back Loan Scheme (BBLS), designed to provide quick access to funds amid the coronavirus pandemic. Get the Full Story Complete the form to unlock this article and enjoy...
The Paycheck Protection Program (PPP) has a problem with its forgiveness program, according to the Credit Union National Association (CUNA), which wrote to the House Small Business Committee for its hearing on SBA pandemic response programs. A lot of funds have gone out, CUNA affirms,...
The Consumer Financial Protection Bureau (CFPB) is taking a long hard look at mortgage servicers — and whether they’ve really been compliant with pandemic-era programs designed to keep struggling homeowners out of foreclosure. Accusations are surfacing that homeowners are failing to get help they were...
Square plans to launch its lending product, Square Loans, in Australia. The offering assists small companies with expansion by providing them with easy and expedient access to funds, according to a post on Square’s website on Wednesday (April 14). Get the Full Story Complete the...
Creditors of Revlon Inc. that obtained in excess of $500 million in inadvertent payments by way of Citigroup Inc. want a judge to let them access the funds that he has determined can remain in their hands, Bloomberg reported. Get the Full Story Complete the...
It tends to be a truism that in managing daily financial life, success comes down to a matter of triaging. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required....
President Joe Biden has extended the period that small businesses have to seek loans to offset costs related to the COVID-19 pandemic. According to Bloomberg, Biden signed the legislation in a short ceremony on Tuesday (March 30), calling it a bipartisan effort that gives businesses...
