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.
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.
The North Atlantic States Regional Council of Carpenters on Thursday evening directed all of its members to stop working on construction sites in Massachusetts from April 6 “until it is safe to do so.”
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.
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.
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 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.
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.
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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