Coronavirus Impact
Coronavirus Impact
Roughly 3 million homeowners have asked for forbearance since the government announced steps to help borrowers dealing with fallout from the pandemic, according to Black Knight.

Federal backing for firms facing a deluge of missed mortgage payments is still on the table despite recent comments by an official who questioned the need to help the industry.

April 20
5 Min Read

Lawmakers are considering a plan to reserve Paycheck Protection Program funds for lenders with $50 billion in assets or less, a figure that would include nearly all credit unions.

April 20
2 Min Read

Bank of America and U.S. Bancorp were also named in a lawsuit filed in Sunday in which the banks are accused of prioritizing large loans distributed through the Paycheck Protection Program in order to maximize fees.

April 20
2 Min Read
Truist Chairman and CEO Kelly King

Executives say they can still meet their goal of $480 million in cost savings this year from the combination of BB&T and SunTrust despite unexpected expenses, unless the economy fails to rebound quickly.

April 20
3 Min Read

After more than tripling its loan-loss provision, the $182 billion-asset company became the first large U.S. bank to report a quarterly loss as a result of the coronavirus pandemic.

April 20
2 Min Read
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Overall credit card spending is down 32% while debit card purchases have declined by 12% for the week ending April 12.

April 20
1 Min Read

Lawmakers are considering a plan to reserve at least $50 billion in Paycheck Protection Program funds for customers of community banks and small regionals.

April 20
1 Min Read
Bankshot

From stimulus checks to the Paycheck Protection Program, the government’s infusion of cash into an economy reeling from the coronavirus pandemic has primarily helped those who already strong banking relationships.

April 20
5 Min Read
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