Similar Stories to Wells Fargo Stops Taking Applications For Ppp Loans on Bing News

Mark Calvey, Biz Journals
Mon, 04/06/2020 - 6:39am

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 downturn that has some talking of an impending economic depression, one of the nation’s largest lenders will largely be kept on the sidelines. “Today, the company continues to operate in compliance with an asset cap imposed by its regulator due to actions…

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