Regulators announce new measures to support economy, banks
Financial agencies have provided additional information to encourage banks to work constructively with borrowers affected by COVID-19. [Continue]
Writer: Anna Cushing
Regulators incentivise customer, small business support
Federal agencies have encouraged bankers to support customers and small businesses as the economic impacts of COVID-19 continue to develop. [Continue]
Rural banker confidence plummets
The Creighton University Rural Mainstreet Index plummeted in March to its lowest level since 2016, taking its biggest one-month decline since the survey’s inception in 2006. [Continue]
Community banks, regulators offer guidance amid pandemic
Community banks, state associations and federal agencies are continuing to offer guidance to consumers and employees as the nation grapples with the current reality of the COVID-19 pandemic. [Continue]
Digital giving succeeds through communication
Charitable giving in the United States amounts to about $400 billion each year. Three fourths of it is given in the traditional write-the-check, lick-the-envelope way. The consolidation of charitable giving and online banking is similar to what happened with online bill-paying 20 years ago. [Continue]
Ohio Senator urges financial agencies to halt non-COVID-19 rulemaking
A Senate democrat urged federal financial regulators to shelve rulemaking projects that aren’t related to the coronavirus pandemic. [Continue]
Facilitating philanthropy
Interest for Others is an online giving network for banks, with 100 percent of donations given to local charities. Bill Dolan, the founder of the initiative, had the idea in 2013 when he looked at the interest he had earned on one of his checking accounts — $3.43. [Continue]
State leaders adapt strategies amid crisis challenges
Trade associations and the Minneapolis Federal Reserve are providing resources, continuing to cancel or postpone events and encouraging remote work as the COVID-19 crisis and subsequent economic challenges commence. [Continue]
Bank strategies evolve as customers keep their distance
Community banks continue to close their lobbies, and encourage online banking as a way to promote social distancing during the COVID-19 pandemic. At two Minnesota banks, all lobbies are closed, and in-bank services are available by appointment, but only after customers are screened through a series of questions. [Continue]
Community banks respond to COVID-19 in various ways
In the wake of the evolving novel coronavirus pandemic, community bankers are responding by widespread cancellations of large gatherings, enhanced sanitation efforts, and promotion of online banking services and remote work. [Continue]