Many of the Buffalo, N.Y., bank’s commercial loans have exited forbearance granted in the early days of the pandemic — except hospitality and retail, which were given longer dispensation.
Many consumers are taking to the highways and the water for safe getaways during the pandemic — powering one of the few bright spots in lending. However, bankers warn that boomlets usually come with distinctive credit risks.
Several companies said this week they’re slashing expenses as the economy limps along. Others would prefer to keep investing in new technologies and hold off on moves like branch closings to better gauge which changes in consumer behavior will stick.
The performance of about $3 billion in hotel and other loans flagged by the Dallas company as high-risk has been a "a pleasant surprise," its chief credit officer said at an industry conference.
When it comes to branch cleanliness and mask-wearing, the San Francisco bank is more diligent than its rivals in helping to reduce the spread of coronavirus, according to a new study.
When it comes to branch cleanliness and mask-wearing, the San Francisco bank is more diligent than its rivals in helping to reduce the spread of coronavirus, according to a new study.
The move is part of the effort by banks and other companies to promote racial equity and be more sensitive to the stresses on front-line employees.
The Minneapolis company’s partnership with the Black Business Investment Fund and other community development financial institutions is an example of how banks can fulfill multimillion-dollar pledges aimed at closing the racial wealth gap.
The Federal Reserve could ease capital rules, foster the creation of special-purpose banks and take other steps to strengthen minority communities and businesses without legislation being sought in Congress — if it has the will to do so, experts say.
A public-private partnership that has fewer rules and restrictions than the Paycheck Protection Program would save more small businesses.