New York Times: Big Banks Aren’t Embracing Fed’s Main Street Loan Program

The New York Times, July 8, 2020: Big Banks Aren’t Embracing Fed’s Main Street Loan Program

The Federal Reserve Bank of Boston on Wednesday released a list of lenders that have signed up for the central bank’s midsize-business lending program and are willing to make loans to new customers through the initiative.

Noticeably absent are most of the nation’s biggest banks. Only Bank of America has so far agreed to participate and take on new clients, based on the Boston Fed’s release, while lenders like JPMorgan Chase, Citigroup and Wells Fargo are not listed.