Commercial lending

House bill would temporarily lift credit union commercial lending cap

04/16/20

Legislation announced Wednesday would allow credit unions to make coronavirus relief loans to businesses without fear of bumping up against the member business lending cap.

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Credit-line drawdowns have peaked. Will banks get repaid?

04/15/20

The biggest lenders seem to have handled the corporate rush for cash heading into the economic shutdown caused by the coronavirus pandemic. But their ability to collect is as uncertain as the economic outlook for the next year.

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Citi’s bond-trading windfall no match for surge in loan-loss provisions

04/15/20

Net income fell 46% in the first quarter as the company added nearly $5 billion to its loss reserves in anticipation of a wave of loan defaults.

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Bank of America joins rivals in setting aside billions for loan losses

04/15/20

With the coronavirus pandemic bringing economic activity to a virtual standstill, BofA, like Wells Fargo and JPMorgan Chase, is shoring up its reserves to brace for a likely recession.

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Wells Fargo lays out bleak timeline for economic recovery

04/14/20

Its prediction that business conditions will remain weak this year — and into next year — stands in stark contrast to forecasts from political leaders that the economy will rebound quickly from the coronavirus pandemic.

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JPMorgan's outlook for 2020: More pain ahead

04/14/20

Though hopeful for a second-half bounceback in the economy, JPMorgan Chase is prepared for 20% unemployment, lackluster GDP and losses in its loan portfolio that could reach tens of billions of dollars.

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Wells Fargo sets aside the most for loan losses in a decade

04/14/20

The results preview a tough first year for new CEO Charlie Scharf as the coronavirus pandemic brings the U.S. economy to a standstill.

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JPMorgan Chase profits plunge 69% on coronavirus fallout

04/14/20

The nation's largest bank set aside nearly $8.3 billion for bad loans, more than double what some analysts had expected.

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Banks meet ‘mad scramble’ for loan deferments, but at what cost?

04/13/20

By helping borrowers now, banks hope customers can quickly catch up on payments once the coronavirus pandemic ends. If they can’t, interest income will remain low and charge-offs could pile up if the crisis drags on.

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Fintechs OK'd to make emergency small-business loans

04/13/20

PayPal, Intuit QuickBooks Capital and Square Capital have been named direct lenders in the Paycheck Protection Program, and more await the OK. They could be crucial to reaching the smallest firms trying to survive the economic toll of the coronavirus pandemic.

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