Banks Poised to Get Fee Windfall From Small-Business Stimulus
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Earlier this year, thousands of lenders rushed to arrange loans under the U.S. government’s Paycheck Protection Program. Now, some of them will be rewarded handsomely.
More than 30 banks across the country, including dozens of community banks and some lenders with more than $1 billion in assets, could generate fees that surpass their 2019 net revenue before set-asides for loan losses, according to a study distributed Tuesday by S&P Global Market Intelligence. The firms that will reap the biggest gains are the ones that punched above their weight in arranging loans for the rescue program.