President Donald Trump on Saturday dismissed concerns about the rollout of a $349 billion program to assist small businesses rocked by the coronavirus, saying loan distributions were “way ahead of schedule” even as banks struggle to respond to the flood of requests.

The coronavirus pandemic continues to alter our work and home lives, but we hope you can take a break and catch up with our Insights.

Small businesses had mixed results Friday trying to apply for loans on the first day of an unprecedented and quickly arranged federal relief program, with some banks including Wells Fargo & Co. saying they weren’t ready as lenders across the country grappled with a lack of detailed guidelines from the government.

Half a million of Bank of America Corp.’s 66 million customers have deferred loan payments because of financial fallout from the coronavirus.

Banks and others won’t be punished for missing some deadlines under mortgage servicing regulations as they rush to comply with payment forbearance requirements under the new coronavirus aid package, federal and state regulators said.

With a wave of U.S. mortgage borrowers expected to seek reprieves from monthly payments, regulators are taking steps to make it easier for firms that service the loans and bracing for the reality that they may have to take a harder line in specifying who qualifies for relief.