Breaking: The Paycheck Protection Program has exhausted its $350 billion funding capacity, as U.S. lawmakers remain in a stalemate over how to allocate more money. Read more on Politico.

COVID-19, PPP updates CUs need to know about THE NEW YORK MINUTE

Letter to secretary of the Treasury outlines CUs concerns over PPP THE NEW YORK MINUTE

FFIEC releases updated sections, related examination procedures to Bank Secrecy Act/Anti-Money Laundering THE NEW YORK MINUTE

Jobless claims soar by 5.25 million to push coronavirus-tied layoffs above 20 million MARKETWATCH

Fed says backstop for small business loans fully operational REUTERS

Nation’s biggest banks setting aside billions for loan losses CUTODAY

Consumer bureau, housing finance agency to share mortgage servicing data in new Borrower Protection Program REGULATORY REPORT

Some banks keep customers’ stimulus checks if accounts are overdrawn NEW YORK TIMES

Court greenlights lender flexibility under PPP NEW YORK’S STATE OF MIND