Banking

A surge in demand for home loans drove the increase, but the second quarter could see a slowdown in borrowing and more delinquencies as consumers contend with the economic fallout of the coronavirus pandemic.

Bankers are bracing for accusations of discrimination in the way Paycheck Protection Program loans were allocated.

A letter from Todd Harper, a member of the National Credit Union Administration board, called on lawmakers to make a variety of legislative changes to help credit unions and consumers weather the pandemic.

It's time for agencies like the Small Business Administration to stop playing catch-up and invest in state-of-the art technology.

Banks tend to pull back in times of crisis by tightening credit and focusing on collections efforts. But consumers, and not returns, must be the focus during the coronavirus pandemic.

The largest U.S. banks stepped up lending to dominate the government's small-business rescue program after playing an undersized role in its early days.

U.S. banks under $10 billion in assets made 60% of the loans in the first round of the Paycheck Protection Program; things go relatively smoothly in the U.K. as 110,000 small businesses apply for low-cost loans.

Stay-at-home orders and business shutdowns have led to a sharp decline in consumer use of credit and debit cards.

Payday Loan LLC, which engages in lending and check cashing in 22 stores in California, sued the SBA on April 25 after its request for a $644,000 loan from the Paycheck Protection Program was denied.

Lenders implemented stricter underwriting across all loan types in the first quarter as the pandemic upended the economy, the Federal Reserve said in its survey of loan officers.

The Fed has tweaked its Main Street Lending Program to stir more enthusiasm, including the creation of a third financing option for larger companies. Will it make a difference?

On Dec. 31, 2019. Dollars in thousands.

On Dec. 31, 2019. Dollars in thousands.

On Dec. 31, 2019. Dollars in thousands.

The $468 million-asset institution said expansion isn't required now but the move is a proactive attempt to ensure its long-term viability.

Lenders are throwing money at buyers with stable jobs while making it harder for weak borrowers to get loans; $50 billion in loss provisions may not be enough and could stifle lending.

Credit unions moved quickly to reduce branch access as the coronavirus crisis worsened. The harder decision will be when and how to begin lifting those restrictions.

Small businesses that received loans from the Paycheck Protection Program pandemic still don’t know how much they may have to repay after the government missed a deadline to give specific guidance.

Locally sourced campaigns are providing more capital as traditional loans fall short of covering operating expenses.