Business > U.S.

Fed modifying asset cap so Wells Fargo can make more small business loans

1 month ago   |   By Reuters

The U.S. Federal Reserve said on Wednesday it would "temporarily and narrowly" modify the growth restriction on Wells Fargo & Co's balance sheet, allowing the bank to make more loans under government assistance programs for small businesses hurt by the coronavirus disruption.
Read more ...

 

Fed eases Wells Fargo growth cap to boost emergency loans

Fed eases Wells Fargo growth cap to boost emergency loans

1 month ago   |   By Politico

The Federal Reserve on Wednesday eased the punitive growth restrictions it placed on Wells Fargo after a raft of consumer abuse scandals, allowing the giant bank to offer government-backed loans to small and medium-sized businesses.
The move comes after Wells said it planned to offer $10 billion in loans guaranteed by the Small Business Administration but that it didn't have capacity to do further lending, given the central bank's continued cap on its assets.
Small businesses, defined as companies with 500 employees or fewer, have rushed to obtain the loans, which can be forgiven if those...
Read more ...

 

Fed modifying asset cap so Wells Fargo can make more small business loans

1 month ago   |   By Reuters

The U.S. Federal Reserve said on Wednesday it would "temporarily and narrowly" modify the growth restriction on Wells Fargo & Co's asset cap so the bank can make more loans under government assistance programs for small businesses hurt by the coronavirus disruption.
Read more ...

 


Search by Tags

   U.S.      BusinessNews  


Elon Musk's historic SpaceX mission makes successful launch

Elon Musk's historic SpaceX mission makes successful launch

Elon Musk, with an assist from NASA, opened up space for private business Saturday when two veteran astronauts shot off in orbit on the first-ever manned commercial space... Read more ...

NASA resumes human spaceflight from U.S. soil with SpaceX launch

NASA resumes human spaceflight from U.S. soil with SpaceX launch

SpaceX launched two Americans into orbit from Florida in a landmark mission marking the first spaceflight of NASA astronauts from U.S. soil in nine years. Read more ...

Trump says George Floyd's killing 'should never have happened,' vows to...

Trump says George Floyd's killing 'should never have happened,' vows to 'stop mob violence, and we'll stop it cold'

President Donald Trump discussed the death of George Floyd and the rioting across the country on Saturday, in his remarks from Florida for SpaceX's launch of two NASA... Read more ...

SpaceX's historic launch hurled a sequined plush dinosaur into space with...

SpaceX's historic launch hurled a sequined plush dinosaur into space with NASA astronauts

SpaceX launched two NASA astronauts into space on Saturday in a historic feat, and a mysterious, sequined dinosaur plushie accompanied them. The dinosaur began floating around... Read more ...

PHOTOS: Protests erupted in New York City as police clashed with...

PHOTOS: Protests erupted in New York City as police clashed with demonstrators over the killing of George Floyd

Protests erupted in Brooklyn Friday night over the killing of George Floyd, who died when a white Minneapolis police officer knelt on his neck on Monday. The officer, Derek... Read more ...

Trump warned protestors would've faced 'vicious dogs' and 'ominous weapons'...

Trump warned protestors would've faced 'vicious dogs' and 'ominous weapons' if crowd breached White House fence during George Floyd rally

President Donald Trump spoke out on the protest over George Floyd's death that gathered demonstrators in Washington DC, specifically across from the White House. Trump posted a... Read more ...

If SpaceX's rocket fails, an emergency escape system will save the...

If SpaceX's rocket fails, an emergency escape system will save the astronauts onboard. NASA calculated a 1-in-60 chance they'll need it

SpaceX is set for a historic launch on Saturday: It plans to send two NASA astronauts to the space station. NASA has calculated a 1-in-60 chance that the mission will fail but... Read more ...

The owner of a Minneapolis restaurant damaged by fire during George Floyd...

The owner of a Minneapolis restaurant damaged by fire during George Floyd protests said: 'Let my building burn, justice needs to be served'

The Gandhi Mahal, an Indian restaurant in Minneapolis, was damaged early Friday morning by fire set during protests against the death of George Floyd . Owner Ruhan Islam's... Read more ...

Police chiefs in Dallas and Atlanta walked their cities' streets and talked...

Police chiefs in Dallas and Atlanta walked their cities' streets and talked directly with protesters, as demonstrations broke out over the death of George Floyd

As demonstrations escalate across the US over the death of George Floyd, police chiefs were seen talking directly with and listening to protesters. Dallas Police Chief Reneé... Read more ...

Trump claimed he didn't know about the racist origins of his 'when the...

Trump claimed he didn't know about the racist origins of his 'when the looting starts, the shooting starts' remarks in light of the escalating violence amid the George Floyd protests

President Donald Trump claimed he didn't know about the racist meaning when he quoted, "when the looting starts, the shooting starts," in light of instances of escalating... Read more ...