Big banks are stockpiling reserves for potentially bad loans, and sinking profits in the process. Investors will be watching their dividends this week.
The novel coronavirus has wreaked havoc on the economy—and the banks’ operations.
Lending money has become a much riskier proposal, forcing banks to put aside billions of additional dollars in case consumers and businesses stop paying. And early this year, the Federal Reserve cut interest rates, which was meant to shore up the economy but also lowered the margin banks can make on any lending they do.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Here Are The Banks Taking New Customers Through The Fed’s Main Street Lending ProgramHere are the banks taking new customers through the Fed’s main street lending program: by theothersarahh
Read more »
As loans run out, small businesses face reckoning amid COVID-19 surgeThe resurgence of COVID-19 across the country this summer has deepened anxiety for millions of American small business owners who face another imminent cash crunch in their battle to survive a historic pandemic. The government’s $660 billion Paycheck Protection Program, first rolled out in April, was
Read more »
Florida Sets Record For Single-Day Covid-19 Cases As Disney World ReopensEven as Disney World reopens and the Florida state government was being pushed to host in-person classes for the fall school semester, the Sunshine State is setting new records for COVID-19 cases. …
Read more »
Three Weeks After Trump's Tulsa Rally, Oklahoma Reports Record High COVID-19 NumbersLocal reports say the seven-day average of COVID-19 cases is nearly six times what it was in early April
Read more »
Miami Zoo Gorilla Gets Coronavirus Nasal Swab Test, Amazing PhotosShango the gorilla was given a test for COVID-19 out of an abundance of caution.
Read more »
The pandemic made everything harder: Financial strategies for people with disabilities and special needsOne out of every four people in the United States lives with a disability at some point in their lives. And the pandemic is making it even harder to take charge of your financial future -- here are a few strategies that can help people with disabilities.
Read more »