Rep. Don Beyer

@RepDonBeyer ↗

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Last Checked Nov. 22, 2020

Created

Fri Apr 03 16:10:28 +0000 2020

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Rep. Don Beyer @RepDonBeyer

Banks have regulations governing the kinds of risks they can take in issuing business loans and the kinds of due diligence they have to take before underwriting loans. SBA and Treasury were all over the place in telling banks what the rules were for PPP loans into the 11th hour. — PolitiTweet.org

Posted April 3, 2020 Hibernated

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Rep. Don Beyer @RepDonBeyer

Here's the problem: SBA and Treasury were still figuring out/telling people how PPP was supposed to work hours before it went online to process loans. @GerryConnolly @RepWexton & I talked to lenders who said they didn't know how the program would work. https://t.co/7Fy9h6x4G6 — PolitiTweet.org

One lender predicted tomorrow will be "one of the craziest days in the history of modern banking." Another told u… https://t.co/QFKTajaVFa

Posted April 3, 2020 Hibernated

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Rep. Don Beyer @RepDonBeyer

So every big bank, community bank, credit union, etc is trying to make sense of these rules right now. Some are just saying "yes" and hoping for the best, some are processing loans for people they've already underwritten first, and some aren't doing any at all. Chaos. — PolitiTweet.org

Posted April 3, 2020 Hibernated