News Topic: COVID-19

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Millions of heroes of the pandemic--health care workers, law enforcement and first responders, National Guard troops, public school teachers, and social workers--are suffering needless financial hardship because of student loans. Years ago Congress ... Read full article

Shared national credit balances rose 5% last year, and the percentage of at-risk loans nearly doubled. Regulators point out that banks have stashed away extra capital, but a lot will depend on the speed of the economic recovery and the performance of ... Read full article

A full rebound won’t occur until next year at the earliest because of the slow vaccine rollout, most executives at small banks said in a new survey. Last summer, more than half expected a turnaround this year. ... Read full article

A full rebound won’t occur until next year at the earliest because of the slow vaccine rollout, most executives at small banks said in a new survey. Last summer, more than half expected a turnaround this year. ... Read full article

On January 19, 2021, the U.S. ... Read full article

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

Among the various bills that were amalgamated in the Consolidated Appropriations Act, 2021 (the omnibus appropriations and stimulus funding bill that was signed into law on December 27, 2020) was a modified version of the Save Our Stages Act (the “ SOS ... Read full article

On December 27, 2020, President Donald Trump signed into law the Consolidated Appropriations Act, 2021 (the 2021 Consolidated Appropriations Act ), an omnibus statute that is comprised of, among other laws, twelve fiscal year 2021 appropriations bills for ... Read full article

During 2020, our society has been faced with an economic crisis, health crisis, social justice crisis and environmental crisis. The pandemic has rapidly changed how banks engage with customers and employees; accelerating the shift from in-person ... Read full article

Eleven Democrats on the Financial Services Committee have asked the heads of the Treasury Department and IRS to eliminate service charges tied to debit cards used to distribute COVID-19 relief. ... Read full article

There is an emotional and human aspect in all relationships and that holds true for the bond between individuals and brands. The COVID-19 pandemic has brought both the strengths and weaknesses in customer experience under the spotlight. This episode will ... Read full article

The economic fallout from COVID-19 has highlighted systemic concerns about commercial real estate exposure, business debt and short-term wholesale funding, the Financial Stability Oversight Council said in an annual report. ... Read full article

Vice Chairman of Supervision Randal Quarles said the agency wants to figure out why banks are holding on to capital that could be used more aggressively to respond to the pandemic. ... Read full article

In the Spring I am teaching a research and writing seminar called Advanced Commercial Law and Contracts. Credit Slips readers have been important resources for project ideas in the past, and I'd appreciate hearing what you have seen out in the world ... Read full article

The events of 2020 have only helped to intensify a range of potentially disruptive developments in the payment industry. As the central bank's digital currencies advance, how will the government and the private sector work together to bring projects ... Read full article

The New York bank, which is conducting a search for its next leader, also said it expects to report strong third-quarter earnings. ... Read full article

The Federal Reserve will continue its ban on share repurchases for banks with more than $100 billion of assets into the fourth quarter and will cap dividend payments using a formula based on recent income. ... Read full article