Treasury Department

The high court ruled June 29 that the structure of the Consumer Financial Protection Bureau violated the separation of powers.

A bond market once thought to be key to the futures of Fannie Mae and Freddie Mac — and the roughly $5 trillion of home loans they backstop — could instead find itself on the scrap heap due to their own regulator.

The Senate had passed the bill Tuesday, shortly before the Small Business Administration was to stop accepting new loan applications.

The agencies said late Friday that they will provide information on small businesses that received $150,000 or more from the Paycheck Protection Program.

The inability of Democrats and Republicans to agree on a chairperson and lack of sufficient personnel have made it harder for the commission to do its job — hold Treasury and the Fed accountable for implementing the coronavirus relief law, observers say.

Evidence suggests some minority-owned businesses can’t access loans, and the Trump administration is under pressure to report borrower demographics. The issue is gaining attention against the backdrop of protests over the George Floyd killing.

The firm also predicts that the coronavirus pandemic will delay the GSEs' release from government control.

Banks could end up holding many low-rate Paycheck Protection Program loans on their books for two years, and dealing with irate borrowers who failed to meet federal requirements for forgiveness.

Up to 12% of loans under the $660 billion small-business rescue program could be tied to misleading or completely phony applications, fueling concerns about lenders' potential liability.

The Treasury secretary said recent government moves will help the firms get through the risk of millions of borrowers missing their loan payments.