While some institutions have held off on staffing up for new projects, many mission-critical positions at the executive level are still being filled. It may take until well into 2021 before normal patterns return.
The U.S. economy continued to grow across the country as it recovered from the coronavirus pandemic, but the picture was uneven, according to a new report from the Federal Reserve.
Banks have managed to steer around trouble spots in energy, hotel and mall-related credits. But fears of further deterioration, an eviction wave or more job losses are keeping lenders circumspect.
The credit union regulator has no immediate plans to bring staff and examiners back into the office, but Chairman Rodney Hood said staying remote would remain an option for all staff members during Phase 1 of any return.
Weak loan demand, persistently low yields and the continued struggles of sectors such as hospitality and retail are among the myriad lending challenges facing small regional banks.
The Dallas bank has begun encouraging larger borrowers to seek forgiveness of Paycheck Protection Program loans first as it holds out for the government to streamline the process for loans below $150,000.
Online fraud typically spikes when holiday shopping begins in November, but so-called friendly fraud poses another big threat this year with the pandemic pushing more consumers — and inexperienced merchants — to online sales channels.
The auto lender says consumers’ skittishness about flying and using public transit during the pandemic has fueled a surge in demand for new and used cars. But executives remain wary of high unemployment and the potential for a rise in loan defaults.
The North Carolina company had promised regulators not to close large numbers of branches until December. Meanwhile, vendor contracts, leases and other hurdles have made it hard to accelerate efforts to offset a sudden decline in revenue.
