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0.00112201963534371 0.00112201963534371 5.61009817672894E-05 0.00218793828892014 0.000841514726507746 0.000841514726507746 -0.00252454417952308 -0.0029733520336606
Stock impact report

Fed May Ease Lending Curb on Wells Fargo to Help Small Businesses [The New York Times]

JP Morgan Chase & Co. (JPM) 
Last jp morgan chase & co. earnings: 4/14 06:43 am Check Earnings Report
Small-business owners have so overwhelmed banks with requests for money — just days after the start of an emergency relief program — that Federal Reserve officials are considering easing restrictions on Wells Fargo to make it easier for it to lend.Two years ago, the Fed imposed growth limits as a penalty afterHowever, there is so much demand and chaos in the $349 billion lending program, which went into effect via participating banks on Friday, that Fed officials are now discussing a temporary truce with Wells, according to two people with knowledge of the matter.The truce would involve lifting a cap on the amount of assets the bank can hold, so that it can lend more to small businesses. On Sunday, Wells Fargo said the cap was limiting its ability to lend to businesses that qualified under the government’s so-called Paycheck Protection Program. Because of the restrictions, the bank said, it was able to only make up to $10 billion in loans to small businesses, but there was already dem Show less Read more
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