Banking & Financial Services
Stocks are trading at a higher volume than they have been for weeks, as far as trading goes so far on Monday. “What is clearly happening is the excitement of reopening is allowing a lot of these companies that have…
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Consumer credit dropped by a record 19.6-percent rate in April, due to problems that have arisen during the COVID-19 pandemic. It fell by 19.6 percent, or $68.8 billion, which is a record that has not been seen since the 1940s.…
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There are a lot of stimulus-check proposals being proposed by politicians, and there has still not been a decision on whether or not U.S. residents will receive a second round of them. Republican Senate Leader Mitch McConnell says he is…
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Several executives at large banks has decried George Floyd's killing by police in Minneapolis last week. "This week's terrible events in Minneapolis, together with too many others occurring around our country, are tragic and heartbreaking," JPMorgan Chase CEO Jamie Dimon…
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The Consumers Banking Association and the Bank Policy Institute are expressing concerns about the Paycheck Protection Program loan-forgiveness program and how small businesses will be impacted. "The expedited process by which the program was implemented has resulted in considerable gaps…
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Congress is meeting for a two-day session to discuss changes to Paycheck Protection Program loans for small businesses. The proposed legislation would give small businesses more time to use federal subsides for payrolls and other business costs. Senate Majority Leader…
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Paul Holewinski is the president and chief executive officer of Academy Bank. Q. What are you seeing in terms of loan-request volume since COVID hit? A. Loan volume and applications have been down the last 60 days as businesses try…
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About 80 percent of small businesses that are members of the National Federation of Independent Businesses have applied for SBA loans, and 54 percent are hoping for them to be forgiven, according to a recent survey. “Small businesses continue to…
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A few days after meeting with the Jackson County Legislature requesting $54.5 million in CARES Act funding, Kansas City Mayor Quinton Lucas wants to see about half of those funds expedited. In a letter to the legislature, he asked for…
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Mortgage applications rose six percent last week from the previous week, according to the Mortgage Bankers Association, possibly pointing to a home-buying recovery. Meanwhile, purchase volume dropped 1.5 percent year over year, a major recovery from six weeks ago, when…
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