Credit

Once the payment holiday is over, monthly repayments are likely to be higher, leaving many borrowers struggling to manage their debt.

Fallout from the coronavirus pandemic is pressuring banks that have relied on expansion efforts and fee income to produce outsize investor returns.

Two years ago, the Tulsa, Okla., company expanded its Native American casino lending business nationwide. It seemed like a great plan until the coronavirus pandemic struck.

The rescue bill enabled banks to protect loans in forbearance from an immediate hit to a borrower’s credit report, but experts say affected consumers may have trouble getting loans after the pandemic ends.

The economic contraction caused by the coronavirus pandemic has been worse than the Wall Street firm had modeled two months ago, its president John Waldron said Wednesday.

The Toronto company also said it set aside 232 million this year for U.S. regulatory probes into the bank’s metals-trading practices and costs tied to the wind-down of that business.

The bank is trying to recover millions of dollars in returned deposits. It also has a $14 million loan to the company that allegedly conducted the scheme.

When a bank subscriber to Sure Profile pulls a credit report on an applicant for a loan or account, Experian will check to see if the identity data matches a real person.

Some lenders are issuing debt and preferred stock to provide an extra buffer for credit losses. Others are preparing for growth opportunities.

The second-quarter jump in provisions may be three to four times higher than a year earlier and will be mostly for loans that have yet to go bad, analysts said.

Unlike past economic recessions where businesses and consumers have had to adjust their payment habits and debt levels over the course of months or quarters as the economy shrank, the coronavirus-induced economic crisis has forced many to make much more abrupt financial adjustments.

Lawmakers are working to head off a wave of pandemic-related personal credit downgrades. But there are bigger problems with how credit risk is assessed that are harder to solve.

Comptroller of the Currency Joseph Otting says the revised Community Reinvestment Act will provide more credit access to communities in need and won't, as some had feared, create new thresholds for grading banks.

Lenders are scrambling to pause ranchers’ loan payments as meat processing plant shutdowns during the pandemic threaten $25 billion in losses for the livestock industry.

Congress should pass legislation authorizing use of nontraditional data sources to make credit more available to consumers who’ve taken a hit from the coronavirus pandemic.

The Pittsburgh company’s sale of its stake in the asset manager yielded billions of dollars that could cushion the pandemic’s economic blow and eventually help fund a big acquisition.

The upstarts enjoyed rapid growth during the long economic expansion. Now they are on the ropes.

More write-downs seem inevitable as the coronavirus outbreak wreaks havoc on the economy and bank stocks.

Lenders that scrambled to grant forbearance as the coronavirus pandemic took hold are unsure about the extent of potential losses.

The millions of dollars earned from Paycheck Protection Program transactions will help cover rising provision costs tied to the new CECL accounting standard and coronavirus shocks to loan books.