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Fair Lending
Pressure and opportunity combine to bring large banks home
Lawsuit alleges unfair business practices by prioritizing borrowers who were seeking larger loan amounts rather than a good faith effort to take business on a first come first serve basis
$248 billion has already been loaned to small businesses across the US, according to new data
Banks will need to process approximately 50 times their normal annual volume in the next 30-60 days under the Paycheck Protection Program
Banks are continuing to explore ways of supporting local communities, customers, and medical staff during the pandemic
While regional banks were embracing small business loans, the U.S. government sparred with the top four regarding the program as larger banks did not show enthusiasm
Thankfully, the Small Business Administration (SBA) and Treasury Department finally released details
Errors and attempted fraud connected to mortgage applications fell by 3% in January and is down by more than a quarter year-on-year
Credit card late payments fell but auto, home and personal loans all saw delinquencies rise in Q3
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