The Fed will expand loan offerings and qualification rules for its forthcoming $600 billion lending effort designed to reach small and midsize businesses
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Federal Reserve seeks banks' advice as it gets into direct lending with coronavirus reliefThe Federal Reserve has reached out to investment and retail banks for feedback on its Main Street lending program ahead of its formal launch, according to people familiar with the matter.
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Fed Expected to Pledge Aggressive Action as Economic Distress WorsensFederal Reserve officials have announced lending programs but, with interest rates near zero, they may need to consider other tools.
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Mnuchin defends $500 billion federal lending program to large corporations: WaPo - Business InsiderThe program doesn't impose significant restrictions on executive pay or worker layoffs, fueling concerns corporations will reward shareholders.
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Big banks have been temporarily locked out of the small business lending program - Business InsiderThe move comes after concerns that small lenders serving businesses owned by people of color would have to compete with big banks.
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Loopholes In Small Business Relief Program Allow Thriving Companies To Cash InThe Paycheck Protection Program is designed to help small businesses from falling off a cliff during the pandemic, but some companies on firm ground have gotten millions to expand.
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Global Markets Follow U.S. Stocks HigherStocks rose following a rally in U.S. markets on Federal Reserve assurances that it will continue with its stimulus programs and on promising news on a coronavirus treatment.
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