Some megabanks are pushing New York lawmakers to add a legal safe harbor if lenders use the new Secured Overnight Financing Rate. Smaller banks would have little choice but to take that option.
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.
The shortage of personal protective equipment (PPE) for medical workers is one of the most troublesome elements of the coronavirus outbreak, though prior work to declutter cross-border supply chain payments provides some hope.
Many banks are slashing their spending. Others are changing their messaging strategies. And those that banks partner with pro sports teams are stuck in limbo, since it remains unclear when games will resume.
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.
The joint statement on the risks of cloud computing summarizes years of guidance and rules as industry reliance on third-party platforms has become more ubiquitous.
Credit inquiries for auto lending, revolving credit cards and mortgages fell sharply in March as unemployment surged, according to a Consumer Financial Protection Bureau report.
