Some Democratic lawmakers argue the program is fundamentally flawed.
As restaurants begin to reopen across the country, owners and managers are faced with new challenges to keep staff and customers safe.After months of revisions and delays, the Federal Reserve's long-awaited Main Street Lending Program is up and running -- but critics say in order to boost the economy, it may still have a long way to go.
The Fed also rolled back the stake banks are required to hold from 15% to just 5% for all loans, with the central bank taking on the rest. The move was meant to encourage lenders to participate, but some experts say it could result in banks doling out millions in bad loans. Whether these revisions will make the loans more attractive to businesses remains to be seen, but SEC filings show several well-known companies like SeaWorld and the the fashion designer and manufacturer Fossil expressed interest in the federal loans as recently as last month.MORE: Fed unveils details of $600B Main Street lending program for businesses hurt by pandemic
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Fed launches long-awaited Main Street lending programThe Federal Reserve said on Monday it had opened registration for lenders interested in participating in its Main Street Lending Program, launching arguably the most complex program undertaken yet by the U.S. central bank to help keep the backbone of the economy from buckling under the strains of the coronavirus pandemic.
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The Fed's Main Street Lending Program is now open and encouraging banks to start making loans | Markets InsiderThe Federal Reserve's Main Street Lending Program opened on Monday to lender registration, meaning that banks can now sign up to make loans thro...
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Goldman Goes Main Street With Push Into Corporate Bank AccountsGoldman Sachs—the go-to bank for complex trades and high-stakes mergers—is trying to become a player in the staid business of managing corporate cash.
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Russia may slash main interest rate as coronavirus takes toll: Reuters pollRussia's central bank is expected to cut its benchmark interest rate by a deeper-than-usual 100 basis points on Friday, as the economy plunges into recession due to still-low oil prices and a lockdown aimed at curbing the spread of the new coronavirus.
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Dow futures drop 300 points as Wall Street set to extend last week's sharp lossesThe overnight action in futures market followed a big pullback last week.
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