The Federal Deposit Insurance Corp.’s latest report on the industry’s health had positive news about the earnings recovery last quarter, but it also showed that low interest rates amid continuing economic uncertainty are putting downward pressure on asset yields.
Tuesday's hearing on the CARES Act was dominated by bickering over Treasury's decision to shut down the Fed's emergency lending facilities, drowning out pleas from some lawmakers for more aid.
With COVID-19 cases soaring, a growing number of banks, including JPMorgan Chase, U.S. Bancorp and Capital One, have pushed back target dates for bringing employees back to offices. Some are even allowing them to work from home indefinitely.
The latest bipartisan plan to accelerate the economic recovery would appropriate roughly $300 billion for the Paycheck Protection Program, but the legislative package still faces long odds in the divided Congress.
Elizabeth Magennis recently served as the New Jersey company's chief lending officer. ConnectOne also hired Michael O'Malley, a former OnDeck Capital executive, as chief risk officer.
In November, the Sierra Club singled out Bank of America as "the only major U.S. bank not to rule out financing for the destruction of the Arctic refuge" after its five biggest competitors updated their policies this year.
The digital currency’s recent 90% jump is being fueled by ‘less speculative fever;’ the liquidity facility designed to enable small banks to make more PPP loans has been extended until March.
