How Lenders are Responding to the Coronavirus Crisis

Both banks and online lenders are responding to the recent events with most already communicating with their customers detailing the precautions they are taking for their staff as well as measures to help impacted borrowers; the MLA sent a letter to Chairwoman Maxine Waters of the House Financial Services Committee and high ranking members of Congress detailing measures taken by their members; the OCC and FDIC also advised that banks take care of customers affected by the coronavirus, making recommendations to consider waiving fees and more flexibility for repayments; the banks are already being impacted significantly with the large banks halting share buybacks; the iShares U.S. Regional Banks ETF (IAT) was down 14% yesterday and publicly traded fintechs including LendingClub, OnDeck and GreenSky all touched all-time lows yesterday. Lend Academy

  • With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.

Sign up for our Newsletters

Every morning the Fintech Nexus News team scours the globe for the most important fintech stories of the day in the daily Global newsletter.

The Europe edition comes out on Monday, Wednesday, and Friday featuring the most important stories in European and UK fintech.

The Latin American newsletter arrives in your inbox on Tuesdays and Fridays. This is a trilingual newsletter featuring stories in Spanish, Portuguese, and English.

Join 20,000 subscribers!