The 57 charges involve $175 million allegedly stolen from the small-business loan program. Defendants are accused of lying on their applications and using funds to buy cars, jewelry and other luxury items.

As the coronavirus began to sweep through Europe and the U.S. during the early spring, Phillip McGriskin was in the middle of a crucial funding round.

The Senate Banking Committee met Wednesday to review central bank lending facilities such as the Main Street Lending Program, which provides bank-issued loans to middle-market firms. But some lawmakers on the panel said the focus of pandemic relief has been misplaced.

It could take years for the air travel industry to recover from the pandemic, but some of the airlines' responses could fuel other payment streams.

A pandemic-driven surge in bank deposits helped drive the agency's insurance reserves below their statutory minimum.

Only one of the 118 loans bought by the Federal Reserve through Aug. 31 was close to the $250,000 minimum in the rescue program, aimed small to midsize businesses hurt by the pandemic.

Bank of America announced how it plans to spend a third of its $1 billion commitment to address racial and economic inequities and the effects of the coronavirus pandemic in communities of color.

Thanks to a donation from the Credit Union Federation of Korea, the global trade group is working with international partners to distribute personal protective equipment to institutions in need.