Coronavirus Impact
Coronavirus Impact
"Lots and lots of companies are getting financed, the banks are lending, the markets are open [and] you have a much easier lending climate certainly than we had in February and March,” said Fed Chairman Jerome Powell.

The central bank is only now nearing the launch of the credit facilities after the effort was announced in April. But Chairman Jerome Powell said loans have been available through other means.

June 10
3 Min Read
“Without PPP, we would have faced the extinction of small business as we know it, countless blocks of urban and suburban America would have been hollowed out, vast expanses of empty lots where brick and mortar stores once sustained communities,” said Senate Small Business Committee Chairman Marco Rubio, R-Fla.

Members of the Small Business Committee signaled backing for broadening Paycheck Protection Program access for the smallest companies, encouraging participation by nonbank lenders and other improvements.

June 10
7 Min Read
Clients are gravitating toward the “biggest, stable institutions,” Morgan Stanley CEO James Gorman said.

In wealth management and consumer lending, banks are starting to win back clients they had been losing to startups.

June 10
1 Min Read

The ATM industry was already mired in the painful transition away from hardware to digital technology, and now it must try to persuade consumers and merchants that cash isn’t unsafe to handle.

June 10
2 Min Read
Brett Cooksey, chief information officer, Sunrise Bank

After initially processing the loans manually, the Minnesota bank turned to "low code" software to build the electronic forms and workflows needed to approve loan applications. The result: a more than fivefold increase in the number of loans it could process in a day.

June 10
6 Min Read
The lawsuits have targeted many of the nation's banks, including the four largest, JPMorgan Chase, Citigroup, Bank of America and Wells Fargo.

Accountants, as well as lawyers and consultants, who helped small businesses apply for emergency relief funds through the Paycheck Protection Program want to be compensated. Are they entitled to be?

June 10
5 Min Read
BankThink

A blueprint that includes more CRA and tax credits for lower-income African Americans would help a demographic disproportionately harmed by the coronavirus pandemic.

June 10
4 Min Read
Ali Raza

The economic impact of the coronavirus pandemic could lead to the ongoing expansion of workers’ access to early, or earned wages (EWA) through advances and instant payouts, including to new types of users.

June 10
6 Min Read
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