Overview
S&P Global Market Intelligence quoted Scott Sinder in an article titled "Congress Set to Stretch PPP Loan Forgiveness Period, Impacting Fees, Interest." The article, published June 2, discusses how legislation extending the loan forgiveness period under the Paycheck Protection Program is likely to become law. According to the article, the action could affect bank fees and interest income from Small Business Administration emergency loans into 2021.
Sinder says, "Some people are concerned that the process is overly complicated," but banks are preparing, anyway. "They don't have a choice," he adds. "It's a capital issue. If they extend their loans, they’re using capital to do it."
The full article can be read at S&P Global Market Intelligence.