• The new bankers’ hours: Long nights and weekends

    The new bankers’ hours: Long nights and weekends0

    The coronavirus outbreak has drastically increased the demands on bankers across the country. Lenders have been scrambling to address the needs of cash-strapped commercial clients and unemployed customers. Leaders are retooling their business strategies to reflect changing conditions. Department managers and many front-line employees are still adjusting to working remotely. Work days are getting longer

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  • Mountain of Small Loans Looms Over Europe’s Pandemic-Hit Banks

    Mountain of Small Loans Looms Over Europe’s Pandemic-Hit Banks0

    Miguel Ríos had a bustling business running four karaoke bars in Barcelona until the coronavirus forced him to shut them. He took out bank loans worth €80,000, equivalent to $96,000, put his 10 employees on a government wage-support program and hoped for the best. Almost a year later, with doors still closed, Mr. Ríos worries

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  • Essential skills for today’s bankers: Patience and empathy

    Essential skills for today’s bankers: Patience and empathy0

    When the pandemic struck, it threw the banking industry into a massive experiment it had little time to prepare for. Within weeks, banks nationwide sent thousands upon thousands of employees out of the office to work remotely. Meanwhile, front-line employees became financial first responders, coaching customers through online banking options for the first time and

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  • Bankers need to walk the walk on equality

    Bankers need to walk the walk on equality0

    George Floyd’s tragic death ignited a powder keg of anger and frustration over systemic racism. In the wake of global protests the banking industry is asking: What should we do now? Banks have a disproportionate responsibility to act. Financial discrimination and the resulting inequities are one of the most powerful contributors to the black community’s

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  • More incentives for smaller lenders in next PPP round

    More incentives for smaller lenders in next PPP round0

    Lenders now have more clarity in advance of the Paycheck Protection Program’s reopening. The Small Business Administration released new guidance for PPP late Wednesday, putting considerable emphasis on helping smaller lenders and borrowers. The new version of the program, which received $285 billion in funds from the most recent stimulus package for new and existing

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  • Small Businesses, Hit Hard by Pandemic, Are Being Starved of Credit

    Small Businesses, Hit Hard by Pandemic, Are Being Starved of Credit0

    Small businesses that cleared the hurdle of the coronavirus shutdowns are now encountering an all-too-familiar obstacle: Banks don’t want to lend to them. The Paycheck Protection Program funneled $525 billion in forgivable loans to millions of small businesses in the pandemic’s early days. Yet that massive infusion masked a yearslong contraction in small-business lending that

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