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Phase 2 of PPP gets green light
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Banking
Friday, April 24, 2020
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The House followed the Senate’s lead on Thursday by approving an additional $310 billion in funding for the Paycheck Protection Program. Despite bipartisan calls for urgency in restarting the process, though, lenders did not learn until Friday afternoon when the program would be scheduled to restart.
There are changes to the program under the legislation that must be sorted out before the agency can take applications again, and the Treasury Department issued new guidance Thursday which could be a stumbling block as lenders prepare the next round of applications.
Read on for all the latest.
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