Compliance

First National Bank of Omaha Study: How the Pandemic Has Hit Bank Customers

First National Bank of Omaha study reveals financial impact of the COVID-19 coronavirus pandemic

$248 billion has already been loaned to small businesses across the US, according to new data

As branches close, cut hours, or reduce services during the pandemic, Greenwich research highlights problems for traditional approaches

Banks will need to process approximately 50 times their normal annual volume in the next 30-60 days under the Paycheck Protection Program

Bank granted ‘temporary and narrow’ relief from 2018 balance sheet restrictions to aid small business loan program

Complex regulations and required manpower are pushing costs higher, but fraud attempts are rising

The government’s $349 billion small business support package is facing issues already, according to reports

The bank is targeting $10 billion in PPP loans but is restricted by measures put in place following the fake accounts scandal

Thankfully, the Small Business Administration (SBA) and Treasury Department finally released details

Banks should not be pushing for a delay to new rules regarding accounting for credit losses, according to KBRA