Preston Thompson | Source | Managing Director at EY
Preston Thompson
With almost 30 years of experience in the financial services industry, Preston brings perspective and experience as a banker, regulator and advisor. Currently Preston co-leads EY’s Credit Risk Management and coordinates all Risk related offerings across our South market segment.
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EY
Managing Director
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Banks face new PPP compliance hurdles as they prepare for wave of loan demand
Banks are grappling with a slew of new compliance questions as they gear up for the expected crush of loan demand under the latest version of the Paycheck Protection Program.
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New legislation is going to strain banks trying to decide how to move forward in the new landscape and how to devote resources. Most of the demand under the new program will be for "second-draw" loans, but banks will face challenges in determining how their borrowers would qualify for those funds.
