Small-business relief loans start flowing again, with $5 billion worth approved in the first week. The revived Paycheck Protection Program is off to a smoother — and slower — start than it had last spring, when desperate borrowers deluged banks with loan applications and overwhelmed the government’s computer systems. The
By Thomas Franck, CNBC The Biden administration could be open to adjusting eligibility levels for the next round of coronavirus stimulus checks to ensure the relief flows to families who need the emergency funds the most, the president’s top economic advisor said Tuesday morning. Brian Deese, who joined CNBC’s “Squawk
By Ben Luthi, Investopedia Credit card debt has continued to drop in the U.S., down to $978.8 billion in November, the Federal Reserve reports. The latest numbers are part of a steady decline since the beginning of the coronavirus pandemic in March. Credit card debt had hit a record high
The JPMorgan Chase & Co. headquarters on Park Avenue in New York, NY on July 16, 2017. JPMorgan Chase is an American multinational banking and financial services holding company. By Imani Moise, David Henry, Reuters (Reuters) – A swell of deposits during the coronavirus pandemic has put big U.S. banks
By Diana Olick, CNBC After setting more than a dozen record lows last year, mortgage rates began 2021 on an upward climb, and that lit a fire under borrowers, fearing they might miss the last of the lowest rates. Mortgage applications to refinance a home loan spiked 20% last week
By Enda Curran, Michelle Jamrisko and Catherine Bosley, Yahoo Finance (Bloomberg) — Economic shocks like the coronavirus pandemic of 2020 only arrive once every few generations, and they bring about permanent and far-reaching change. Measured by output, the world economy is well on the way to recovery from a slump
By Tim Glaze, Housing Wire As the coronavirus began sweeping through the U.S. in March, many states issued shut-down orders for businesses, putting as many as 40 million people out of work by May. On March 27, Congress passed the CARES Act to offer economic relief to those affected by the shut-downs, expanding unemployment
By PYMNTS Americans see both good and bad economic times ahead, with consumers predicting the highest jump in household spending in more than four years, even as the largest share since 2013 think they’ll be worse off this time next year, New York Federal Reserve figures show. “Despite flat income
By Christopher Maloney, Bloomberg A growing percentage of U.S. homeowners are looking to delay making mortgage payments, the latest sign that the economic recovery is hitting a snag. In the first week of December, the proportion of mortgage borrowers that started seeking forbearance relief rose to its highest level since
Sonic Drive-In Restaurant exterior. Sonic Corp. is an American drive-in fast-food restaurant chain. – Costa Mesa, CA – October 17, 2015 By Jonathan O’Connell, Andrew Van Dam, Aaron Gregg and Alyssa Fowers, Washington Post Ongoing revelations about how big businesses and chains were able to secure hundreds of millions of
