Stimulus bill

Unbanked stimulus seekers rush to open checking accounts

03/17/21

The IRS, FDIC and more than 70 banks and credit unions are urging consumers to open affordable accounts so they can receive their Economic Impact Payments quickly and safely. Many people have signed up, but millions lack accounts and will be harder to serve.

]]

[more]

In this crisis, White House and banks are on same team

02/22/21

More than a decade after the near collapse of the financial system and the bruising fight over Dodd-Frank put the industry and a Democratic administration in conflict, President Biden and the financial services sector are allied over the COVID-19 relief plan.

[more]

Stimulus battle stands in way of AML measure becoming law

12/30/20

An impasse over pandemic relief checks for Americans is holding up an override of President Trump's veto of a bill shifting beneficial-owner requirements from banks to their commercial clients.

[more]

House Dems demand fee waivers for new stimulus cards

12/29/20

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.

[more]

Stimulus bill would give banks more flexibility on problem loans

12/23/20

The legislation would let banks postpone the start date of the Current Expected Credit Losses accounting standard and delay categorizing pandemic-related loan modifications as troubled debt restructurings.

[more]

BofA’s Moynihan urges Congress to act on second federal stimulus

12/09/20

Speaking at an investor conference, Bank of America's CEO said that additional aid is needed to help consumers, businesses, nonprofits and local governments ride out the pandemic.

[more]

Digital dollar, inclusion and the stimulus bill

11/16/20

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 to an effective conclusion?

[more]

Bankers talk around lending prospects, talk up need for stimulus

11/05/20

Executives from a half-dozen major financial institutions avoided detailed commercial lending forecasts and gave a mixed outlook on consumer credit at an industry conference. And they called on Washington to pass an aid package targeted at the most troubled business sectors as soon as it can.

[more]

Santander Consumer warns charge-offs will keep rising into spring

10/28/20

The subprime lender cited low odds that Washington will deliver further economic relief, and the fact that $1.5 billion of loans whose deferral period expired are now more than 30 days behind.

[more]