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Nearly £1.5 billion given to small businesses in a week under government-backed coronavirus loan scheme

Small businesses struggling under coronavirus pressures have been handed nearly £1.5 billion in government-backed loans in just a week - more than double the loans provided since the scheme began in March.




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Rishi Sunak announces new micro loan scheme for small businesses worth up to £50,000

Loans to be available from next week as Government ramps up efforts to save small businesses from collapsing under financial fallout of Covid-19 crisis




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Stampede for £50,000 bounce back loans to halt bankruptcies during coronavirus crisis

Thousands of firms today rushed to get "bounce back" loans of up to £50,000 to avoid going bust within weeks as the coronavirus crisis wreaked havoc in the economy.




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Loan site buckling under COVID-19 strain shows man another applicant’s data

Form requires sensitive data, including driver’s license and voided check scan.




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TD expects U.S. retail banking business to take $1.1B charge for bad loans

Toronto-Dominion Bank says it expects to take a provision for credit losses related to its U.S. retail banking business of roughly $1.1 billion (US$800 million) in its second quarter due to the pandemic.




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What you need to know about freezing loan payments during coronavirus

Jane Goodland, corporate affairs director at investment and wealth manager Quilter, on how to best approach loan payments during Covid-19




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Pablo Mari desperate for Arsenal stay as coronavirus pandemic disrupts loan spell

Pablo Mari insists his future remains with Arsenal and is determined to secure a permanent move to the north London club.




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Transfer window reduced to 'swap deals and loans' due to coronavirus, predicts ex-Liverpool and Tottenham chief

Damien Comolli, the former Liverpool and Tottenham director of football, believes the transfer window will be very different next time around due to the coronavirus pandemic.




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Chelsea's Ethan Ampadu has 'no regrets' over RB Leipzig loan spell

"If I'm honest, it's not been as good as I hoped, not all that I wanted it to be."




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Chelsea starlet Billy Gilmour reveals how talks with Frank Lampard convinced him to snub loan move

Chelsea starlet Billy Gilmour has revealed how a conversation with Frank Lampard convinced him not to go out on loan and compete for opportunities at the club.




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Scott McTominay patience pays off as Manchester United star reveals he nearly left on loan

Scott McTominay has revealed he nearly left Manchester United on loan but believes his patience in waiting for his chance has paid off.




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Arsenal loanee Henrikh Mkhitaryan wants permanent AS Roma move, says Paulo Fonseca

Arsenal loanee Henrikh Mkhitaryan wants to remain at AS Roma beyond his current loan spell, according to Giallorossi coach Paulo Fonseca.




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Manchester United loanee Chris Smalling 'wants Roma stay' as Paulo Fonseca hails 'amazing' defender

AS Roma head coach Paulo Fonseca has reiterated his desire to keep Manchester United defender Chris Smalling at the club beyond the end of his current loan stint.




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Liverpool goalkeeper Loris Karius terminates Besiktas loan stay early

Liverpool goalkeeper Loris Karius has confirmed that his loan stay with Besiktas has been terminated early.




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French League to take out loan to cover loss of TV rights money after season cancellation

The Ligue de Football Professionnel (LFP) have confirmed they will help support Ligue 1 and Ligue 2 clubs financially following the cancellation of the season with a state-guaranteed loan to cover lost television rights money.




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What Manchester United loanee Odion Ighalo instantly learned from Ole Gunnar Solskjaer

Loan sensation Odion Ighalo has revealed he felt the benefits of working under Ole Gunnar Solskjaer instantly upon arriving at Manchester United.




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Manchester United want to extend Odion Ighalo loan deal as Ole Gunnar Solskjaer weighs up £15m transfer

Manchester United want to extend Odion Ighalo's loan deal as they continue to weigh up a permanent move.




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Odion Ighalo to Manchester United: No immediate transfer plans with loan extension the priority

Manchester United are only pursuing an extension to Odion Ighalo's loan deal and have no immediate plans to negotiate a permanent move.




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House coronavirus oversight panel demands large companies repay small-business loans

“Returning these funds will allow truly small businesses ... to obtain the emergency loans they need to avoid layoffs," they write.




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Watchdog warns SBA that loan limits will hurt small business borrowers

The SBA's IG said the agency veered from the law Congress drafted to create the program when the agency set rules for how businesses could obtain loan forgiveness.




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Treasurer Josh Frydenberg to review Pensions Loan Scheme interest rate after 'gouging' allegations

The current 5.25 per cent interest rate for reverse mortgages under the Government's Pension Loans Scheme has not fallen despite three official cash rate cuts this year.




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Bay Area data storage company ordered to return $10M PPP loan

A publicly traded San Jose video data storage company with a market value of almost $171 million is one of five companies that were ordered Friday to return loans they received through the U.S. Small Business Administration’s Paycheck Protection Program.




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Letters: Lakers changing their name to the Loan Rangers?

Letters from readers to the Los Angeles Times sports section.




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Coronavirus relief loans offered via SMS prompt call to ban payday lenders

Consumer advocates call for a ban on short-term loans because of concerns loan sharks are using text messages to target vulnerable people affected by the coronavirus pandemic.




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About 750,000 customers could pay thousands extra after bank cuts home loan repayments

Commonwealth Bank customers could end up paying tens of thousands of dollars more on their home loans because of changes to repayment levels, a financial expert warns.




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Banks defer repayments on more than 600,000 loans, Macquarie halves dividend

Australian shares rise, including Macquarie Group, despite slashing its dividend. The Australian Banking Association say a further 100,000 loans were deferred over the past week.




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Home loan approvals bounce back

The number of home loans issued in Australia rose 1.5 per cent in February, but still fell short of forecasts.




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Federal, State Partners Announce Multi-Agency Crackdown Targeting Foreclosure Rescue Scams, Loan Modification Fraud

As homeowners and communities throughout the country continue to face devastating consequences from the deep contraction in the economy and the housing market, the Obama Administration today announced a new coordinated effort across federal and state government and the private sector to target mortgage loan modification fraud and foreclosure rescue scams that threaten to hurt American homeowners and prevent them from getting the help they need during these challenging times.



  • OPA Press Releases

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Three Ohio Residents Plead Guilty to Conspiracy to Commit Bank Fraud for Fraudulent Real Estate Loan Scheme

Todd Gongwer of Dublin, Ohio; Lance Parker of Dublin, Ohio; and Joel Lee, of Galena, Ohio, pleaded guilty today to conspiracy to commit bank fraud. Gongwer, a licensed real estate agent, also pleaded guilty to tax evasion in the hearing before Judge Michael H. Watson in Columbus, Ohio. Parker also pleaded guilty to illegally structuring cash transactions.



  • OPA Press Releases

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California Court Bars Four Men from Promoting Alleged Stock-Loan Tax Fraud Scheme

A federal judge in San Francisco has issued permanent injunctions barring four individuals from promoting what a government lawsuit describes as a complex tax-fraud scheme involving several entities located around the globe.



  • OPA Press Releases

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Five Individuals Charged in Scheme to Defraud U.S. Government Agency Related to $9.4 Million Loan

Donald Daniels, Martin William Washburn, Irina Rebegeneau and Tapani Koivunen have been charged in conjunction with a scheme to defraud the Overseas Private Investment Corporation (OPIC), a government lending agency.



  • OPA Press Releases

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California Court Permanently Enjoins Developer of the “Derivium” “90% Loan” Tax Scheme

The complex tax scheme involved numerous entities located around the globe and sales of over $1.25 billion in securities



  • OPA Press Releases

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U.S. Trustee Program Announces Resolution of Litigation Against Countrywide Home Loans Inc., in Consumer Bankruptcy Cases

The U.S. Trustee Program has successfully resolved litigation against Countrywide Home Loans Inc. in its ongoing efforts to protect homeowners in bankruptcy.



  • OPA Press Releases

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United States Files Counterclaims and Crossclaims in Small Business Administration Loan Fraud Case

The United States filed False Claims Act counterclaims against Saehan Bank and crossclaims against Steve Yong Kim and Young Soon Kim in the Northern District of Oklahoma.



  • OPA Press Releases

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Justice Department Asks Federal Court to Bar Allegedly Fraudulent Stock Loan Scheme

The United States has filed a complaint asking a Virginia federal court to permanently bar three firms and three men from promoting a nationwide “HedgeLoan” scheme that the complaint alleges involves the disguised sale of more than $268 million in securities.



  • OPA Press Releases

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Illinois Woman Pleads Guilty to Illegally Accessing Confidential Student Loan Files

Charlotte M. Robinson, 46, of Dolton, Ill., pleaded guilty before U.S. Magistrate Judge Susan E. Cox in the Northern District of Illinois to a one-count criminal information charging her with unauthorized computer access.



  • OPA Press Releases

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Lender to Pay $300,000 to Settle Allegations Involving Small Business Administration Loan

Garsh Lending LLC, a lender located in Miami, has agreed to pay the United States $300,000 to settle allegations involving a Small Business Administration loan.



  • OPA Press Releases

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Federal Court Bars Firm with Offices in Pennsylvania and Virginia from Promoting Stock-Loan Tax Scheme

According to court findings, HedgeLender, which maintained offices in Philadelphia and Reston, Va., promoted a scheme purportedly allowing owners of appreciated stock to obtain cash through purported loans without reporting or paying tax on capital gains.



  • OPA Press Releases

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Coinciding with One-Year Anniversary of “Operation Stolen Dreams,” Three Loan Officers and a Title Agent Charged in $2.5 Million Reverse Mortgage and Loan Modification Scheme

The Justice Department announced today the unsealing of a criminal information earlier today, charging four defendants with conspiracy to commit wire fraud involving a nation-wide reverse mortgage scam that defrauded elderly borrowers, financial institutions and the Department of Housing and Urban Development (HUD).



  • OPA Press Releases

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U.S. Sues Mortgage Lending Business President & Founder in Connection with HUD Insured Loans

The United States has filed a civil lawsuit against Robert S. Luce, founder and president of MDR Mortgage Corp., a mortgage lending business located in Palatine, Ill.



  • OPA Press Releases

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Two Loan Officers and One Title Agent Charged in $2.5 Million Reverse Mortgage and Loan Modification Scheme Plead Guilty in Miami

Louis Gendason of Delray Beach, Fla.; Kimberly Mackey of Pittsburgh; and John Incandela, of Palm Beach, Fla., pleaded guilty today to one count of conspiracy to commit wire fraud for their participation in a $2.5 million Home Equity Conversion Mortgage, or reverse mortgage, fraud scheme.



  • OPA Press Releases

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Four Florida Men Charged in Boston with Defrauding Homeowners in Home Loan Modification Scam

Four Florida men were arrested today on charges that they defrauded homeowners in Massachusetts and elsewhere in connection with a home loan modification scam.



  • OPA Press Releases

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Two Individuals Sentenced in Connection with $2.5 Million Reverse Mortgage and Loan Modification Scheme

Two individuals – a loan officer and a title agent – have been sentenced by U.S. District Court Judge William P. Dimitrouleas in Ft. Lauderdale, Fla., for their participation in a nationwide $2.5 million reverse mortgage fraud scheme.



  • OPA Press Releases

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Florida Loan Officer Sentenced in Connection with $2.5 Million Reverse Mortgage and Loan Modification Scheme

John Incandela, 25, of Palm Beach, Fla., was sentenced to 41 months in prison, three years of supervised release and ordered to pay over $1.9 million in restitution.



  • OPA Press Releases

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Alabama Woman Sentenced to 94 Months in Prison for Stealing Identities of Student Loan Borrowers

Janika Fernae Bates, a resident of Millbrook, Ala., was sentenced today in the Middle District of Alabama to 94 months in federal prison for stealing identities of student loan borrowers and providing them to a co-conspirator, who used them to file false tax returns.



  • OPA Press Releases

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Florida Loan Officer Sentenced in Connection with $2.5 Million Reverse Mortgage Fraud and Loan Modification Scheme

A loan officer was sentenced Friday by U.S. District Court Judge William P. Dimitrouleas in Ft. Lauderdale, Fla., for his participation in a nationwide $2.5 million reverse mortgage fraud scheme, the Justice Department announced.



  • OPA Press Releases

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Federal Government and State Attorneys General Reach $25 Billion Agreement with Five Largest Mortgage Servicers to Address Mortgage Loan Servicing and Foreclosure Abuses

The federal government and 49 state attorneys general today have reached a landmark $25 billion agreement with the nation’s five largest mortgage servicers to address mortgage loan servicing and foreclosure abuses.



  • OPA Press Releases

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Loan Officer Pleads Guilty for Role in Mortgage Fraud Scheme That Resulted in More Than $6.5 Million in Losses

Alejandro Curbelo, 32, aka Alex Curbelo, of Miami, pleaded guilty before U.S. District Judge Joan Lenard. Curbelo was indicted and arrested on Jan. 24, 2012.



  • OPA Press Releases

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U.S. Court Rules That Nation’s Auto Dealers Are Required to Provide Complete Data on Car Loan Terms

A federal judge in Washington has ruled that automobile dealers who engage in certain three-party financing transactions must disclose certain information to consumers who take out car loans if they are offered less favorable terms, such as a higher interest rate, than the most favorable terms available to the majority of consumers



  • OPA Press Releases

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Loan Officer Sentenced to 54 Months in Prison for Role in Mortgage Fraud Scheme That Resulted in More Than $9.2 Million in Losses

Alejandro aka “Alex” Curbelo, 32, of Miami was sentenced before U.S. District Judge Joan Lenard.



  • OPA Press Releases