News Topic: Economy

Bracing for a prolonged economic slowdown, many community bankers say they are considering a number of belt-tightening measures, including freezing salaries and delaying investments in technology and product development, according to a survey by Promontory ... Read full article

The Term Asset-Backed Securities Loan Facility is just one example of a fund that could be retooled. ... Read full article

Regulators need to give more detailed guidance on the coronavirus relief program for small businesses so lenders don’t get trapped in underwriting mistakes down the road. ... Read full article

Banks tend to pull back in times of crisis by tightening credit and focusing on collections efforts. But consumers, and not returns, must be the focus during the coronavirus pandemic. ... Read full article

Nearly 70% of U.S. adults between the ages of 26 and 40 said their earnings had been negatively affected by the outbreak, about 10 percentage points higher than other age group. ... Read full article

Elected officials are better off deciding who’s most deserving of federally backed coronavirus relief funds for small businesses. ... Read full article

Economists also expect the Fed's balance sheet to more than $10 trillion as policymakers look to lift the country from a recession brought on by the coronavirus pandemic. ... Read full article

As the market deals with the short-term challenge of getting stimulus payments into the hands of citizens, the country has a unique opportunity to put unbanked and underbanked citizens on a long-term path to electronic payment methods, says FIS' Jim ... Read full article

The hardest hit industries were leisure and hospitality and retail outside of essential-goods purchases, the Fed said in its Beige Book survey released Wednesday. ... Read full article

Jamie Dimon of JPMorgan Chase, Brian Moynihan of BofA, Michael Corbat of Citi and Charlie Scharf of Wells Fargo are some of the business leaders from multiple industries being asked to help the White House revive the economy as the coronavirus pandemic ... Read full article

The SBA’s Paycheck Protection Program is nearly depleted, but there are ways small banks and fintechs, with help from Congress, can remedy the situation. ... Read full article

The only current CEO who steered a major U.S. bank through the financial crisis, Dimon said JPMorgan’s earnings will be “down meaningfully” this year as a result of the coronavirus pandemic. ... Read full article

Yes, the Small Business Administration's emergency funding program for the coronavirus crisis is off to a rocky start, but that shouldn't stop banks from helping customers in need. ... Read full article

Lenders can offer deferred payments and capitalize on digital banking to help small businesses and consumers get back on their feet. ... Read full article

The 2008 package proved some banks were too big to fail. But the rushed $2.2 billion stimulus shows now any company can be bailed out. ... Read full article

If the new accounting standard poses too many risks during an economic crisis, then it's probably not a good idea at all. ... Read full article

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

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