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The SBA said it is working to improve reviews of first-draw Paycheck Protection Program loans. The agency said anomalies—mostly data mismatches and eligibility concerns—were identified in approximately 4.7 percent of lender-submitted data.
The number of new US coronavirus cases reported over the past seven days is 22% lower than a week ago and the seven-day average has been trending down for 10 days, according to an analysis of data from Johns Hopkins University.
ICBA's next Community Bank Briefing with an update from Washington is set for 2 p.m. (Eastern time) this Thursday, Jan. 28.
The Government Accountability Office will be surveying a sample of Paycheck Protection Program lenders in the coming weeks to gather feedback about their experiences with the program.
The latest coronavirus update from FS-ISAC reports that a bipartisan group of US lawmakers met virtually with Biden administration officials Sunday to push forward plans for vaccine distribution and another massive stimulus.
The SBA on Saturday said it is working to ensure the Paycheck Protection Program appropriately accounts for the changes that businesses may have undergone since the beginning of the pandemic.
