NEW YORK/BOSTON U.S. federal agencies have begun scrutinizing lenders for potential misconduct when distributing $525 billion in pandemic aid to struggling small businesses, according to half a dozen people with knowledge of the matter, regulatory filings and statements. The sources told Reuters the scrutiny of banks' roles in the Paycheck Protection Program (PPP) is preliminary and it was not yet clear if it would lead to formal probes. However, it is the strongest sign yet that some lenders could potentially face civil or even criminal charges relating to the program, in addition to borrowers who stole funds. The Department of Justice, the bailout oversight body, known as the Pandemic Response Accountability Committee (PRAC), and the Small Business Administration's (SBA) internal watchdog are among the agencies exploring whether lenders broke the program's rules or other lending regulations, according to two people with direct knowledge of the matter and regulatory filings.
SHANGHAI/BOSTON, Nov 13 Stocks in Asia fell on
Friday, following on from selloffs in the United States and
Europe as investors feared the economic impact of an
accelerating rise in coronavirus infections.
BOSTON, Nov 12 Stocks in Asia were poised to
pull back after markets in the United States and Europe sold off
on concerns over rising coronavirus infections.
TOKYO/BOSTON, Nov 12 Asian shares pared their
gains in choppy trade on Thursday as investors awaited further
details on whether drugmakers can develop a coronavirus vaccine.
TOKYO/BOSTON, Nov 12 Asian shares rose toward a
more than two-year peak on Thursday, buoyed by sustained global
stimulus efforts and hopes of a coronavirus vaccine, but some
analysts warned of the risk of a correction lower.
BOSTON, Nov 11 Stocks in Asia were set to
continue their gains on Thursday, buoyed again by continued
global stimulus efforts and hopes of a coronavirus vaccine.
* Airline buying moderates; currency markets steady ahead of
BOSTON, Nov 10 Asian shares rose on Wednesday as
hopes for a successful coronavirus vaccine lifted expectations
of a swift reopening of the global economy, which would help the
region's heavily trade-dependent markets.
BOSTON Global stocks and oil jumped and Treasuries sold off on Monday as progress in the development of a coronavirus vaccine lifted investor confidence in a world economic recovery.
HONG KONG/BOSTON, Nov 10 Asian share markets
mostly shot higher on Tuesday driven by regional airline,
tourism and travel stocks as global investors applauded progress
in the development of a coronavirus vaccine which lifted
confidence in a world economic recovery.