Consumer Finance Monitor Podcast Episode: Understanding the Federal Reserve Board Proposal to Lower Interchange Fee Cap for Debit Card Transactions
On July 15, the Federal Reserve Board (FRB) announced it was extending a recent rule change relating to the Small Business Administration’s Paycheck Protection Program. The rule change will allow certain bank directors and...more
On July 17, 2020, the U.S. Federal Reserve Board expanded the Main Street Lending Program to provide access to loans for eligible nonprofit organizations. Previously, nonprofit organizations were not eligible to participate...more
On May 27, 2020, the FRB Boston (the FRB Boston) released form documents and expanded explanatory materials including updated Frequently Asked Questions (the FAQs) for the Main Street Lending Program (the MSLP)....more
In response to the global COVID-19 crisis, US federal financial regulators are taking important actions that affect US and non-US financial institutions, other financial services providers, consumers, and the US and global...more
The Small Business Administration’s (“SBA”) Paycheck Protection Program (“PPP”) guarantees loans from qualified lenders to small businesses impacted by the COVID-19 pandemic so that those businesses can keep workers employed....more
Section 13(3) of the Federal Reserve Act authorizes the Federal Reserve Board (FRB) in “unusual and exigent circumstances” to establish programs or facilities with “broad-based eligibility” that allow a Federal Reserve Bank...more
As has been widely anticipated, the Treasury and the Federal Reserve Board released the details of their previously announced Main Street Lending Program to promote liquidity in the lending market for small to medium sized...more