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

Rapid growth is being accelerated by measures put in place to combat the spread of COVID-19

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

Fraudsters are posing as health officials or charity workers in order to cheat people into handing over money

Banks are continuing to explore ways of supporting local communities, customers, and medical staff during the pandemic

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

Providers of online services are rolling new or enhanced support for banks providing loans under the PPP

Banks press on with merger and acquisition activity despite difficulties posed by 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