Other regionals set more aside for loan losses than the Cleveland bank did in the second quarter, and its ratio of reserves to total loans is slightly lower, too. But Key executives say the portfolio is balanced and holding up well despite the pandemic’s economic toll.
The Dallas bank set aside less in the second quarter for credit losses than analysts expected. Executives cited action in Texas and California to reverse reopenings and said they're still committed to the oil and gas business.
The coronavirus pandemic has exposed weaknesses even at well-established fintechs. They could become more resilient by partnering with traditional financial institutions.
With the COVID-19 health pandemic wreaking havoc on jobs, investments, consumer debt and lending, secured credit cards can address a vital need for people who may not have considered the product in the past.
Jelena McWilliams explains the agency's decision to enlist the help of tech innovators to modernize a reporting process that the coronavirus epidemic has exposed as outdated.
As businesses plan for reopening following the coronavirus (COVID-19) pandemic, your firm may be wondering how you can best advise clients on safety and HR-related topics during this time.
Lenders are cautioning not only that second-quarter provisions might exceed the spike seen earlier this year, but also that credit costs could be elevated into 2021 if the economic slowdown drags on or fears of a second coronavirus wave are borne out.
Members of both parties raised concerns that the requirements for participating in the Municipal Liquidity Facility and Main Street Lending Program are too restrictive to benefit smaller localities and certain midsize firms.
The head of the U.S. central bank said its emergency credit programs were not designed to prop businesses up over the long term.
The Ohio Democrat's criticism of Rodney Hood, chairman of the National Credit Union Administration, echoed complaints from bankers that the regulator was using the chaos from the pandemic to push through changes.