PPP Loan Program Resumes Today
More than a week after the first round of Paycheck Protection Program funding ran out, the small business loan program resumed at 10:30 a.m. this morning.
FHFA: Lump Sum Not Required for Missed Mortgage Payments
The Federal Housing Finance Agency says mortgage borrowers aren’t required to make missed mortgage payments all in one lump sum if they receive forbearance under the agency’s directives aimed at helping the nation grapple with the economic fallout of COVID-19.
People’s United Sees $130M in Earnings, Grants Forbearance to 7.6K Loans
People’s United Bank had first quarter net income of $130.4 million, or $0.30 per common share. Before People’s United closed on two acquisitions last year, net income in the first quarter of 2019 was $114.6 million.
June Eyed for Start of Reopening for Connecticut Businesses
Connecticut could possibly begin a multi-step process of loosening restrictions on businesses and gatherings by June, a co-chairman of Gov. Ned Lamont’s advisory committee said Thursday.
Trump Set to Sign Bill with Nearly $500B More in Virus Aid
President Donald Trump will hold a signing ceremony Friday for a bill providing a nearly $500 billion infusion of coronavirus spending, rushing new relief to employers and hospitals buckling under the strain of a pandemic that has claimed almost 50,000 American lives and 1 in 6 U.S. jobs.
$2.4B in Webster Bank Loans Receive Modifications
Webster Financial Corp., the holding company for Webster Bank and its HSA Bank division, saw first quarter earnings decline by 63 percent compared to last year according to the bank’s quarterly report.
Congress Set to Pass $483B Virus Aid
Congress is sprinting to approve the next coronavirus aid package, a $483 billion deal backed by the White House to replenish a small-business payroll fund and pump more money into hospitals and testing programs.
More Than 18,000 PPP Loans Approved in Conn.
The first round of the Paycheck Protection Program saw more than 18,000 loans approved for Connecticut small businesses before funds ran out on April 16.
Schumer: Deal Reached on $300B More for PPP
Senate Democratic Leader Chuck Schumer said Tuesday agreement has been reached on major elements of a nearly $500 billion coronavirus aid package for small businesses, as well as additional help for hospitals and virus testing.
New Pressure on Lawmakers as PPP Fund Hits Limit
Lawmakers are struggling to break a stalemate over President Donald Trump’s $250 billion emergency request for a small-business program, stoking uncertainty about when additional support will be available in a key rescue program now exhausted of funds.
Webster Donates $100K to Coronavirus Relief
Webster Bank is making a $100,000 donation to United Way COVID-19 Response Funds as part of its commitment to support its local communities.
Congress Buckles Down on Negotiations for More PPP Funds
With a key coronavirus rescue fund nearly exhausted, negotiations are accelerating in Washington over President Donald Trump’s $250 billion emergency request to help smaller employers across the country keep workers on their payroll.
New Tech Partnerships Mark PPP Rollout in CT
With only one week from the creation of a $349 billion small business loan program to its roll out, banks reported working late nights and weekends to prepare for and begin processing loans meant to help small businesses experiencing financial difficulties due to the coronavirus pandemic.
April Apartment Rent Payments Increase in Past Week
April apartment rent payments have increased to 84 percent of renter households through April 12, as the multifamily industry monitors the financial strain caused by the COVID-19 pandemic.
Banks Get Rules for PPP Loans to Realtors, Other Self-Employed
Independent contractors became eligible for the Paycheck Protection Program last week, and the U.S. Small Business Administration today issued supplementary guidance for people with self-employed income like real estate agents.
Commerce Locks Up as Retail Sales Plunge 8.7 Percent
U.S. retail sales plummeted 8.7 percent in March, an unprecedented decline, as the viral outbreak forced an almost complete lockdown of commerce nationwide.
Fannie Doesn’t Shift on Appraiser Rules for Refis
New guidance from federal bank regulators and Fannie Mae includes no changes on a key issue bedeviling the state’s real estate appraisers and mortgage lenders.
Virus Starts to Take Toll on Bank Earnings
With banks starting to release first quarter earnings this week, early results show the potential extent of the coronavirus’ impact on national banks operating in Connecticut.
Connecticut Begins Planning for Post-Pandemic Reopening
Connecticut has taken the first steps toward planning its reopening once the COVID-19 pandemic subsides, Gov. Ned Lamont said Monday.
IMF: Global Economy Will Suffer Worst Year Since Depression
Beaten down by the coronavirus outbreak, the world economy in 2020 will suffer its worst year since the Great Depression of the 1930s, the International Monetary Fund says in its latest forecast.
