Coronavirus

Coronavirus, U.S. Bank's opportunism, CFPB sues Fifth Third: Top stories of the week

03/13/20

From scams to watch out for to the role banks play in an SBA virus loan program, news about the pandemic's impact was everywhere. Also: As State Farm bows out, U.S. Bank seizes an expansion opportunity; CFPB sues Fifth Third for allegedly opening phony accounts; and more from this week's most-read stories.

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Bank M&A was already slowing down. Then the pandemic hit.

03/13/20

Coronavirus concerns, along with the Fed's emergency rate cut and an erratic stock market, have forced most bankers to take pause and reassess potential deals.

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Banks urgently pitch investors on lending to needy companies

03/13/20

Investment bankers have are trying to drum up interest from investment firms and hedge funds to provide tens of billions of dollars in financing to companies in industries upended by the coronavirus.

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Virus is Dodd-Frank's first real test

03/13/20

If banks are unable to weather the economic fallout from the outbreak, calls for more dramatic reforms could get louder.

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Fed again moves to calm markets; Dimon out of hospital

03/13/20

The central bank will inject $1.5 trillion into the money market, including buying more longer-term bonds; JPMorgan says its CEO “is doing very well” as he recovers from heart surgery.

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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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Senator urges banks to stop stock buybacks during coronavirus outbreak

03/12/20

Sen. Sherrod Brown of Ohio, the top Democrat on the Banking Committee, said financial institutions "need to be investing in their communities right now, not investing in their CEOs’ stock portfolios.”

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Fed unveils dramatic measures to ease market strain from virus

03/12/20

The central bank has been under increasing pressure to act as investors have been losing faith in the Trump administration's efforts to contain the economic fallout.

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Do banks have a role to play in SBA's coronavirus loan program?

03/12/20

The agency will be tasked with providing $50 billion in loans to small businesses harmed by the pandemic. It is unclear whether the SBA will need bankers' help.

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ECB will let banks run lower capital levels to deal with virus

03/12/20

The move come a day after the Bank of England cut rates and introduced a series of emergency measures, including capital requirements and a lending program for smaller companies.

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