Commercial lending

More lenders and governments should partner with community development financial institutions to ensure aid reaches minority-owned businesses that are the backbone of many neighborhoods slammed by the coronavirus.

The industry is asking for more time to comment on a regulatory proposal that aims to prohibit banks from denying services to oil and gas companies and other firms in politically sensitive industries.

Hospitality sector credits are coming out of forbearance just as coronavirus cases surge. Restructurings and charge-offs could mount unless vaccine distribution happens quickly enough to jump-start travel by mid-2021.

On Jun. 30, 2020. Dollars in thousands.

On Jun. 30, 2020. Dollars in thousands.

The move comes a day after the Federal Reserve had balked at the Treasury Department's demand that it return funds meant for pandemic relief that have so far gone unused.

The Partnership for Carbon Accounting Financials recently released a methodology for measuring the environmental impact of loans and investments, a key hurdle to the banking industry's long-term goal of net-zero emissions tied to its portfolios.

Lenders want Congress to bring back incentives used during the last recession, such as bigger subsidies and reduced fees, to jump-start participation in the Small Business Administration's flagship 7(a) program.

Community development financial institutions, which tend to be less digitally savvy than traditional banks and credit unions, are developing online-lending platforms and automating backroom processes with investments and technical assistance from big banks, high-tech firms and other sources.

More lenders and governments should partner with community development financial institutions to ensure aid reaches minority-owned businesses that are the backbone of many neighborhoods slammed by the coronavirus.