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Banks

COVID-19

One reason why Black-owned businesses have fared worse in the pandemic: weaker banking relationships

by Kristin Schwab
Aug 4, 2020
That leaves them restricted access to capital, according to a study by the New York Fed.
A beauty product booth at a Black-owned business expo in Florida. The number of Black business owners in the U.S. fell more than 40% between February and April, according to a New York Fed study.
Octavio Jones/Getty Images
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COVID-19

Quarterly bank earnings may tell a bigger story about the U.S. economy right now

by Mitchell Hartman
Jul 13, 2020
Banks touch many sectors of the economy, that may be struggling — or thriving — during the COVID-19 pandemic.
Chris Hondros/Getty Images
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COVID-19

Citi plans to buy PPP loans from minority-owned lenders

by Justin Ho
May 21, 2020
The arrangement would allow minority-owned lenders to take PPP loans off of their balance sheets.
Citi says it will purchase $50 million in loans from minority-owned lenders.
Bruce Bennett/Getty Images
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COVID-19

Big banks pledge overdraft relief so customers reap full benefits of COVID-19 checks

by Nova Safo
Apr 16, 2020
Big banks say they’ll give customers a temporary break on negative balances.
Stimulus checks are fair game for private debt collectors. But big banks are offering relief for negative balances.
Joe Raedle/Newsmakers
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Econ Extra Credit with David Brancaccio

How does the Fed find an extra $2.3 trillion?

by David Brancaccio and Candace Manriquez Wrenn
Apr 10, 2020
Turns out it's much more akin to printing money than it is to borrowing.
The central bank announced yesterday it's making more money available to counteract the economic effects of the pandemic.
Karen Bleier/AFP via Getty Images
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COVID-19

Why small business loans for COVID-19 relief may be delayed

by David Brancaccio , Nancy Marshall-Genzer and Alex Schroeder
Apr 3, 2020
The federal government's guidelines for banks only went out Thursday night — hours before the program was supposed to start.
Can banks really start writing emergency loans to small businesses today as expected?
Christian Petersen/Getty Images
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Why financial startups are choosing human first names

by Andie Corban and Kimberly Adams
Nov 13, 2019
In an attempt to seem more trustworthy than big banks, financial startups are giving themselves folksy first names.
Carl Court/Getty Images
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CFPB is taking a fresh look at bank overdraft fee rule

by Renata Sago
Jul 2, 2019
The Consumer Financial Protection Bureau is reviewing a 2009 rule that regulates how banks charge customers who overdraw their checking accounts.
Saul Loeb/AFP/Getty Images
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A tale of two payment apps

by Justin Ho and Leila Goldstein
Apr 26, 2019
Venmo and Zelle look like they should be competitors. But the two payment apps serve very different audiences.
Milkos/iStock/Getty Images Plus
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How the vest became Wall Street's bulletproof armor

by Justin Ho and Leila Goldstein
Apr 19, 2019
The fleece vest has become ubiquitous in the finance world. Manufacturers are taking note.
Jeff Bezos, chief executive officer of Amazon, arrives for the third day of the annual Allen & Company Sun Valley Conference, July 13, 2017 in Sun Valley, Idaho. Every July, some of the world's most wealthy and powerful businesspeople from the media, finance, technology and political spheres converge at the Sun Valley Resort for the exclusive weeklong conference. 
Drew Angerer/Getty Images
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