Mnuchin And Powell To Testify Remotely On Coronavirus Relief

Mnuchin and Powell testify remotely before the Senate Banking Committee, providing a quarterly report on the CARES Act. The Congressional Oversight Commission reports minimal loan distribution from the $500 billion allocated for businesses and governments. Lawmakers inquire about economic stimulus payments and the Paycheck Protection Program. Mnuchin states that 4.2 million small business loans have been processed, with conditions for loan forgiveness. Concerns arise over program restrictions potentially affecting borrowers.

How many small business loans has the federal government processed so far according to Mnuchin?

What warning did a government watchdog issue regarding the Paycheck Protection program?