Comptroller Concerned about Face Mask Policies
In a letter yesterday to the U.S. Conference of Mayors, acting Comptroller of the Currency Brian Brooks said requirements that people wear face masks in public could lead to more bank robberies.
Northeast Banks’ Credit Quality Trends with Peers Despite Pandemic
A new analysis from investment bank Keefe, Bruyette & Woods shows that small- and mid-cap stock banks in the Northeast had similar credit quality during the first quarter as other SMID banks in the broader group that KBW analyzes.
Nearly 270K CT Residents Could Miss Housing Payments Without Aid
Connecticut renters and homeowners could miss $366 million in mortgage and rental payments during the coronavirus pandemic without government assistance, according to a study by the Federal Reserve Bank of Boson’s New England Public Policy Center.
41M Have Lost Jobs Since Virus Hit, but Layoffs Slow
In Connecticut, 16,584 filed, over 9,300 fewer than filed last week, according to the federal Labor Department, a significant drop continuing a trend of week-over-week declines since the state’s retail and hospitality sectors, among others, largely shuttered due to the coronavirus.
SBA Releases Loan Forgiveness Guidelines for Lenders
Almost two months after the Paycheck Protection Program launched, lenders finally have details about their role in forgiving the loans.
Congress Weighs Choice: ‘Go Big’ on Virus Aid or Hit ‘Pause’
With more than 38 million unemployment claims, the Republican response centers on kick-starting the economy to reduce the need for more federal intervention.
Not All CT Stores, Restaurants Ready for Partial Reopening
Many Connecticut stores, attractions and restaurants aren’t planning to immediately set up shop Wednesday when some restrictions are lifted in the first phase of Gov. Ned Lamont’s plan to reopen the state from its COVID-19 shutdown.
FHFA Allows Borrowers in Forbearance to Refi, Buy
Borrowers who requested forbearance on mortgages backed by Fannie Mae or Freddie Mac will still be able to refinance or buy a new home under certain conditions, the Federal Housing Finance Agency announced this morning.
Greater Hartford Restaurants Look to Outdoor Dining
Dozens of Greater Hartford restaurants are leaping at the chance to expand their outdoor seating as Connecticut begins to reopen its economy.
Over 8 Percent of Mortgages Now in Forbearance
The share of America’s mortgages in forbearance has now risen above 8 percent, according to the Mortgage Bankers Association’s latest survey.
Lamont to Go Ahead with May 20 Reopening Despite Concerns
Despite a call on Thursday by a group of Democratic state senators to delay plans to begin phasing out Connecticut’s COVID-19 restrictions next week, Gov. Ned Lamont said his administration is still moving ahead carefully toward the planned May 20 partial reopening of certain Connecticut businesses.
Westfield to Reopen Trumbull, Meriden Malls May 20
Mall operator Westfield says it will reopen its two Connecticut locations next week in line with the state’s reopening timeline.
FHFA Adds Deferral Option, Extends Foreclosure Moratorium
The Federal Housing Finance Agency (FHFA) has extended the foreclosure moratorium and added a payment deferral option for borrowers who had requested forbearance on mortgages through Fannie Mae and Freddie Mac.
SBA Provides Safe Harbor on PPP Loans
Small business owners who took Paycheck Protection Program loans for less than $2 million will not face scrutiny from the U.S. Small Business Administration, even if the loan might not have been necessary.
Some Buyers, Sellers Soldier On
New and existing houses aren’t selling like they were prior to the pandemic. But people are still transacting.
FDIC Proposal Would Mitigate PPP’s Effects on Banks
Banks participating in the Paycheck Protection Program could avoid increases in deposit insurance rates that would otherwise see effects from borrowing for the program.
Lamont Creates Fast Track for Retail, Restaurants Reopening
Gov. Ned Lamont has issued a new executive order that may help restaurants and businesses fast-track their reopening.
Lamont Fires Health Commissioner Amid Pandemic
Gov. Ned Lamont announced Tuesday – a day after Connecticut surpassed 3,000 coronavirus deaths – that he had replaced the public health commissioner, a change a state official said was made because of missteps dating to last year.
Economists Warn of ‘W-Shaped’ Recovery as States Reopen
As President Donald Trump and many Republicans press to reopen the economy, some experts see an ominous risk: That a too-hasty relaxation of social distancing could ignite a resurgence of COVID-19 cases by fall, sending the economy back into lockdown.
SBA Inspector General, CT AG Urge Changes to PPP
While the second round of the Paycheck Protection Program has given small businesses another opportunity to seek funding, it has also met with more scrutiny at both the state and federal level.
