Weekly Wrap: PPP ramp up dominates the credit industry

https://bankinnovation.net/allposts/operations/comp-reg/weekly-wrap-ppp-ramp-up-dominates-the-credit-industry/
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A pedestrian wearing a protective mask walks along a street in Milwaukee, Wisconsin, U.S., on Thursday, April 2, 2020. A federal judge refused to postpone Wisconsin’s presidential primary on Tuesday, but extended the deadline for absentee voting by a week. Photographer: Thomas Werner/Bloomberg

The Small Business Administration’s Paycheck Protection Program went live today, and confusion reigned. Despite shelter-in-place mandates for better than 80% of Americans, some banks urged prospective borrowers to come into branches to fill out an application. And although digital applications are sometimes accepted, many FIs are still relying on manual processes and procedures to inbound …Read More

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https://bankinnovation.net/allposts/operations/comp-reg/weekly-wrap-ppp-ramp-up-dominates-the-credit-industry/