Coronavirus

Investar revisits bank purchase it terminated during pandemic's early days

01/25/21

The Louisiana company has agreed for the second time to acquire Cheaha Financial Group in Alabama.

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Late credit card payments at historically low levels in U.S.

01/22/21

U.S. credit card delinquencies reached record-low levels in 2020, as Americans took advantage of stimulus checks and adjusted their spending habits, according to a new report.

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Hotel loans become bigger headache at M&T Bank

01/21/21

The bank's nonaccrual loans have been soaring as the pandemic continues to roil the hospitality sector. M&T executives said they've been working with borrowers to keep them out of foreclosure.

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Paycheck Protection Program: SBA Issues Guidance on First Draw and Second Draw PPP Loans and Releases PPP Applications Pursuant to the Economic Aid Act

01/20/21

On January 6, 2020, the SBA published its 26th Interim Final Rule (the First Draw PPP IFR) and 27th Interim Final Rule (the Second Draw PPP IFR)[1] with respect to the Paycheck Protection Program (PPP), as reauth

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NAFCU calls off 2021 in-person conference

01/19/21

The trade group's summer show was expected to be the first major credit union event not to be held exclusively in a virtual format but was cancelled due to the ongoing pandemic.

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Comerica ahead of schedule in reducing loan-loss reserves

01/19/21

The Dallas bank says reserves could return to pre-pandemic levels by the end of 2021— a year earlier than analysts were predicting — if vaccines prove effective at slowing the spread of the coronavirus.

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Incoming Citi CEO Fraser signals major changes ahead

01/15/21

Weeks away from succeeding Michael Corbat, Jane Fraser said she’d consider streamlining some units or divesting others as part of her effort to kick-start return on equity.

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JPMorgan Chase: More stimulus needed to prevent loan defaults

01/15/21

Federal relief efforts have minimized loan losses so far, but risks remain in credit card, auto and business lending. Many borrowers will need another lifeline to stay afloat until the economy rebounds, CEO Jamie Dimon says.

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Don’t lose sight of what matters most: The customer

01/15/21

In these uncertain times, strengthening relationships with clients is the one thing front-line bankers can control.

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The Save Our Stages Act – Time for Eligible Businesses to Get Ready for Their Audition (Part 2 of 2)

01/14/21

This client alert is the second of a two part series concerning the Save Our Stages Act (the “SOS Act”), which became law on December 27, 2020 as Section 324 of the Economic Aid to Hard-Hit Small Business, Nonprofits, and Venues Act (the “Economic Aid Act”, comprising Title III of Division N of the Consolidated Appropriations Act, 2021).  The SOS Act establishes a new grant program (the “SOS Program”, also known as the “grant program for shuttered venue operators”) to be administered by the Small Business Administration (“SBA”) to aid certain financially distress

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