Consumer lending

Connecticut bank halts small-dollar loan program due to high demand

04/03/20

The $5.9 billion-asset Liberty Bank in Middletown had set aside $5 million to make small-dollar loans to customers affected by the coronavirus pandemic.

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Congress mulls further coronavirus relief for consumers

04/01/20

If Capitol Hill plans another round of stimulus, Democrats could have more leverage to demand steps such as suspending overdraft fees or placing a temporary cap on consumer lending rates.

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Bank of America pledges to retain and pay staff throughout 2020

03/27/20

CEO Brian Moynihan also said in an interview that the bank is helping clients affected by the coronavirus pandemic through increased commercial lending to companies and expanded forbearance for Main Street customers.

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Banks are well positioned to help customers weather this crisis

03/22/20

With the government’s backing and thanks to the unprecedented capital levels they built up since the 2008 financial crisis, banks could provide relief in a way that they never have before.

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Coronavirus testing loan servicers’ mettle

03/17/20

The pandemic has upended staffing plans, sparked concerns about servicers’ capacity to handle the expected crush of missed payments, and even raised questions about their ability to stay afloat.

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California settles with point-of-sale lender Afterpay

03/17/20

The Australian firm agreed to pay around $1 million in connection with allegations that it broke the law by operating without a license in the nation's largest state.

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Will near-zero rates spur more borrowing?

03/16/20

Bankers say they understand the need for an extraordinary government response to the coronavirus outbreak, but worry that even slashing interest rates won’t stimulate demand.

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Demand for small-dollar loans is likely to spike. Will banks be ready?

03/13/20

Banks typically don't offer loans to cash-strapped consumers, and are poorly positioned to start doing so on an emergency basis — unless the government steps in to help.

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How banks are helping customers withstand coronavirus shock

03/12/20

No-interest loans and overdraft forgiveness are among the lifelines banks are offering to consumers and small businesses whose livelihoods are being upended by the economic fallout.

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Santander names Habis head of consumer, business banking

03/12/20

Habis, who joins the bank from MUFG Union Bank, will replace Michael Cleary, who left Santander last fall and recently joined Wells Fargo.

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