Many Mass. Lenders Not Yet Accepting PPP Applications
By Diane McLaughlin | Banker & Tradesman Staff | Apr 3, 2020 | Reprints | Unlock Link 
With final guidelines not published until after 5 p.m. yesterday, many Massachusetts banks and credit unions have not started accepting applications for the $349 billion small business loan program created by the CARES Act.
Cambridge Updates Construction Guidelines, Newton Adds Restrictions
By Steve Adams | Banker & Tradesman Staff | Apr 3, 2020 | Reprints | Unlock Link
The city of Cambridge upheld its two-week-old ban on most construction activity and issued new guidelines for contractors during the COVID-19 emergency, while Newton issued new restrictions on building activity.
Without Guidance for Lenders, Critical Small Business Loans Could Be Delayed
By Diane McLaughlin | Banker & Tradesman Staff | Apr 2, 2020 | Reprints | Unlock Link
By late afternoon on Thursday, banks and credit unions had not received final guidance on the new small business lending program created by the CARES Act, putting the program’s Friday start date in jeopardy for many lenders.
Coop’s Tangen Named BankFive President
Fall River-based Bank Five has named Anne P. Tangen as its new president. She replaces William R. Eccles Jr., who will retire this summer after five decades at BankFive.
Community Good Works
With the coronavirus pandemic crashing into Massachusetts like a tidal wave, several area banks stepped forward to help cushion the blow to their communities.
Boston Puts $5M Forward for Renters, Businesses
Boston is dedicating $3 million to help Bostonians who are at risk of losing their housing pay rent, and $2 million to help the city’s smallest businesses pay rent, payroll and other working capital expenses.
Bank Regulators Clarify CECL Delays
Apr 2, 2020 | Reprints | Unlock Link
The CARES Act and an interim final rule by bank regulators provided conflicting guidance on CECL implentation, prompting federal bank regulators to issue another joint statement clarifying the rule.
Mass. Unemployment Claims Surge for Second Week
By James Sanna | Apr 2, 2020 | Reprints | Unlock Link
The number of Massachusetts residents who have filed initial claims for unemployment has jumped again, this time by over 180,000.
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