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Bad Actors Emerge in PPP Lending – More Expected as Forgiveness Guidance Emerges

Abrigo

As the initial rush to secure PPP loans dies down, financial institutions now face a new set of questions: How do financial institutions handle misused, unforgiven loans and fraudulent loans? In the case of the two men in Rhode Island, there were several red flags pointing to fraud. Manage PPP loans through forgiveness.

Lending 195
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OCC outlines risk plan as Northeastern loan growth doubles

Abrigo

Multifamily, commercial and automotive loans are driving loan growth among banks in the Northeast, but increasing risk will draw fresh attention from regulators to ensure recent and future growth is sound, the Office of the Comptroller of the Currency said recently. • Liquidity risk management and adequacy of contingency funding plans.

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How Big Tech Is Finally Tackling Cybersecurity

CB Insights

Read our future of data security report for more on this topic. ). It comes as no surprise, then, that big tech players like Facebook, Amazon, Microsoft, Google, and Apple (FAMGA) are investing heavily in data security — especially as several have fallen victim to data breaches themselves. Collectively, FAMGA has poured nearly $2.5B

Google 76
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121 Of The Biggest, Costliest Startup Failures Of All Time

CB Insights

The startup, which was established in 2008, privately raised $185 million before its $100 million initial public offering was blocked by the Australian Securities Exchange last year. So its secured lender, which [founder Scott] Jones didn’t name, recently emptied ChaCha’s bank accounts. via Business Insider. Company: KiOR.

Capital 78
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Lawmakers Eye Increased Libra Oversight

PYMNTS

Sylvia Garcia, Democrat of Texas, and Lance Gooden, Republican of Texas, introduced a bill that would put the would-be crypto under the oversight of the Securities and Exchange Commission (SEC). The move, according to the publication, would subject the digital coin to “a set of extensive and well established regulations.”.