Crisis management

'We've never seen anything like this before'

03/26/20

The novel Coronavirus poses not only an unprecedented health crisis, but an unprecedented financial crisis as well. Can we forestall a worst-case scenario?

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Small-dollar loans highlight banks’ coronavirus relief efforts

03/25/20

Many banks are offering low-interest loans to help consumers and small businesses withstand the economic shocks of the pandemic. Some are also doing away with ATM, overdraft and late fees because, as one CEO put it, that revenue “is not the most important thing right now.”

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Stop what you’re doing and help the Fed

03/25/20

Banks and credit unions should make it their top priority to pair with the central bank in distributing financial relief to small businesses, even if that means putting everything else on hold.

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Fed goes all in; Santander chief takes pay cut

03/24/20

The Fed announced several new lending facilities and virtually “unlimited” purchases of Treasury bonds; Ana Botín will donate the money to a coronavirus fund.

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Bankers need to come at this crisis from a different perspective

03/23/20

The coronavirus is changing how consumers interact in branches and banking online. Bank leaders should be prepared.

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Branch plans during outbreak, foreclosure pause, Wells Fargo's new top lawyer: Top stories of the week

03/20/20

Banks cutting back on branch services — or closing stores outright — to slow spread of coronavirus; Trump administration to halt foreclosures as pandemic worsens; Wells Fargo hires TD's Ellen Patterson as general counsel; and more from this week's most-read stories.

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JPMorgan to give some front-line workers extra $1,000 of pay

03/20/20

JPMorgan Chase plans to make special payments to lower-paid employees and branch workers who don't have the ability to do their jobs from home.

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Nothing to suggest trickle-down monetary policy will suddenly work

03/20/20

The Fed must set up a ‘family financial facility’ that sends billions to households and small businesses so banks don’t misdirect relief funds.

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Fed starts emergency program to aid money market mutual funds

03/19/20

The Money Market Mutual Fund Liquidity Facility, established under the central bank’s emergency authority, echoes a version that was set up during the global financial crisis.

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Consumers anxious about virus want reassurance from banks: J.D. Power

03/17/20

Customers are increasingly concerned about taking a financial hit from the COVID-19 crisis and want to know more about fee waivers, credit-line increases and other things banks could do for them.

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