Banking and Lending

House OKs Extension of PPP Loan Deadline

House OKs Extension of PPP Loan Deadline

By The Associated Press | May 29, 2020 | Reprints | Unlock Link

The House gave sweeping bipartisan approval Thursday to legislation modify the terms of Paycheck Protection Program loans made to businesses that have suffered COVID-related losses, giving them more flexibility to use federal subsidies for other costs and extending the lifespan of the program as the economy continues to struggle.

OCC Head Otting to Step Down Next Week

OCC Head Otting to Step Down Next Week

By Diane McLaughlin | May 22, 2020 | Reprints | Unlock Link

A day after releasing long-planned updates to the Community Reinvestment Act, Comptroller of the Currency Joseph Otting resigned, effective May 29. The OCC’s first deputy and Chief Operating Officer, Brian Brooks, will become acting comptroller of the currency, the OCC announced Thursday.

CT Unemployment Claims Up 26K

CT Unemployment Claims Up 26K

May 21, 2020 | Reprints | Unlock Link

Another 26,000 Connecticut residents filed first-time jobless claims for the week ending May 16, bringing the total number of first-time jobless claims filed since March 15 up to just shy of 30 percent of the state’s March workforce.

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