Coronavirus Impact
Coronavirus Impact
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Benefits Think

There isn’t a better time than now to review your employee healthcare and wellness benefits.

March 27
3 Min Read
Drawdowns of C&I credit lines

Draw-downs on C&I credit more than quadrupled in a seven-day period ended March 25. Lenders may try to rein them in if the crisis drags out, but legal precedent isn’t on their side.

March 26
4 Min Read
“As consumers seek temporary relief from lenders, the pandemic is impacting the operations of financial companies that are eager to help their customers during this unprecedented time,” CFPB Director Kathy Kraninger said.

The reprieve from mortgage data collection was among several changes to the agency’s supervisory and enforcement procedures to help firms responding to the COVID-19 pandemic.

March 26
2 Min Read

While LendingClub, Prosper, Avant and SoFi are giving existing borrowers breaks in the short term, they're considering tightening credit as the coronavirus outbreak threatens to drag the economy into a recession.

March 26
4 Min Read
Federal Reserve Chairman Jerome Powell

Federal Reserve Chairman Jerome Powell said the central bank will maintain its muscular efforts to support the flow of credit in the U.S. economy as Americans hunker down from the coronavirus pandemic.

March 26
1 Min Read
“Your money is safe at the banks,” FDIC Chair Jelena McWilliams said in a video address on Tuesday. “The last thing you should be doing is pulling your money out of the banks now, thinking that it's going to be safe for someplace else.”

While analysts agree banks are in better shape than in 2008, lawmakers are dusting off a crisis-era tool used by the Federal Deposit Insurance Corp. to soothe potential liquidity fears during the coronavirus pandemic.

March 25
4 Min Read
Revenue per hotel room

With seven in 10 rooms sitting empty amid the coronavirus outbreak, hotel and banking groups are urging policymakers to open up the Term Asset-Backed Securities Loan Facility.

March 25
2 Min Read
Policymakers agreed early Wednesday morning on a roughly $2 trillion package as Congress prepares to vote on the biggest aid package for businesses since the 2008 bank bailout in the midst of the financial crisis.

The $2 trillion deal passed by the Senate late Wednesday would aim to put banks and consumers alike on stronger financial footing as they weather the coronavirus pandemic.

March 25
4 Min Read
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