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Wells Fargo said on the evening of April 5 that it has exhausted its $10 billion capacity for lending under the SBA’s Paycheck Protection Program as the bank operates under a regulatory asset cap. In other words, amid the pandemic-induced downtur.....»»

A bank based in Berks County with just $18 billion in assets churned out more PPP loans than Chase, Wells Fargo or Bank of America......»»

Wells Fargo's sevenfold rise in profits came during what is shaping up to be an economic resurgence. That has prompted banks to release some of the money they stowed away last year to protect against soured loans, which has boosted their bottom lines......»»

JPMorgan Chase and Wells Fargo said they were following instructions from the IRS, which listed March 17 as the "official payment date" for checks. .....»»

The current round of the Paycheck Protection Program has been open for less than a month......»»

It may be hard for small-business owners to forget Wells Fargo's initial disastrous PPP rollout......»»

Federal and state officials are examining the bank's lending practices under the Paycheck Protection Program......»»

Bank of America, Wells Fargo Bank and U.S. Bank report that the vast majority of their Paycheck Protection Program lending is going to small businesses in California and nationwide......»»

See the rest of the story here. Theflyonthewall.com provides the latest financial news as it breaks. Known as a leader in market intelligence, The Fl.....»»

Wells Fargo said Thursday that it will no longer accept new applications for home equity lines, signaling that the economic outlook is too cloudy even for one of the nation’s largest mortgage lenders. “Wells Fargo Home Lending will temporarily st.....»»

Wells Fargo & Co has revived its special group for bad energy loans in recent weeks as the bank braces for more pain from the sharp downturn in oil prices, people familiar with the matter told Reuters......»»

In a series of class-action lawsuits filed in California and New York over the past week, Bank of America, Wells Fargo, U.S. Bank and JPMorgan .....»»

Wells Fargo is in trouble with its customers again, this time over SBA relief loans......»»

The bank said the loans it has funded have gone to small businesses that cumulatively employ 700,000 people......»»

Wells Fargo & Co on Tuesday reported a plunge in first-quarter profit as the U.S. bank set aside nearly $4 billion to cover potential losses on loans to consumers and small businesses hurting due to the coronavirus outbreak......»»

Commercial real estate loans will be in focus when banks report their first-quarter results......»»

Wells Fargo's rocky week with the SBA PPP ended with the bank still urging its small business customers to consider other banks for SBA relief loans. That's easier said than done......»»

Wells Fargo's rocky week with the SBA PPP ended with the bank still urging its small-business customers to consider other banks for SBA relief loans. That's easier said than done......»»

Wells Fargo's rocky week with the SBA PPP ended with the bank still urging its small-business customers to consider other banks for SBA relief loans. That's easier said than done......»»

Wells Fargo's rocky week with the SBA PPP ended with the bank still urging its small business customers to consider other banks for SBA relief loans. That's easier said than done......»»