Banking and credit

FILE - In this March 16, 2020 file photo, chairs hang stacked on empty tables at a closed restaurant in New York. Small business owners across the country waited again Wednesday, April 8, to receive loan money under the government’s $2 trillion coronavirus relief program. Despite a few reports that some companies had received their loans, the vast majority of the hundreds of thousands of owners who began applying for the loans on Friday were still in limbo. (AP Photo/Yuki Iwamura, File)
1010 WINS Newsroom
April 09, 2020 - 3:31 am
NEW YORK (AP) — Speed is of the essence if a federal relief program for small businesses is going to be effective in combating the damage wrought by the coronavirus lockdowns. Yet, days into the program, many Main Street businesses are still waiting for the cash infusion necessary to stay alive...
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In this image from video, Senate Minority Leader Chuck Schumer, D-N.Y., speaks on the Senate floor at the U.S. Capitol in Washington, Wednesday, March 25, 2020. (Senate Television via AP)
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April 07, 2020 - 6:02 pm
WASHINGTON (AP) — As Congress races to craft the next coronavirus rescue package, President Donald Trump's sudden request Tuesday to pump $250 billion more into a just-launched payroll program for small businesses may hit roadblocks. Treasury Secretary Steven Mnuchin said more money is needed for...
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A nearly full moon sets over the buildings of the banking district and the European Central Bank, right, in Frankfurt, Germany, early Tuesday, April 7, 2020. Due to the coronavirus the economy worldwide expects heavy losses. (AP Photo/Michael Probst)
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April 07, 2020 - 1:48 pm
FRANKFURT, Germany (AP) — The European Central Bank took more emergency action Tuesday to keep credit flowing to companies in the 19 countries that use the euro by easing its rules for lending to banks that serve those businesses. The action comes amid widespread efforts by central banks such as...
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FILE - In this April 3, 2020, file photo, the seats and aisles are empty as seen through the window of the closed Penndot Drivers License Center in Butler, Pa. Small business owners hoping for quick loans from the government were in a holding pattern Monday, April 6, 2020, waiting on their bank to either take their application or, if it did, send them the money. (AP Photo/Keith Srakocic, File)
1010 WINS Newsroom
April 06, 2020 - 9:07 pm
NEW YORK (AP) — Small business owners hoping for quick loans from the government were in a holding pattern Monday — waiting on their bank to either take their application or, if it did, send them the money. Business owners began submitting applications to banks, credit unions and other financial...
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The quarantined Italian cruise ship Aidadiva that is hit by coronavirus and is docked in Skagen harbour at the most northern point in Denmark, Monday April 6, 2020. Authorities have said that the ship is set to stay for a month at the port, and the hundreds of crew members are kept isolated and cannot disembark from the ship. (Henning Bagger/Ritzau Scanpix via AP)
1010 WINS Newsroom
April 06, 2020 - 7:04 pm
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Monday related to the global economy, the work place and the spread of the virus. _____________ CENTRAL BANKS AND GOVERNMENT: The White House is considering coronavirus “war...
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FILE - In this Nov. 13, 2019, file photo Federal Reserve Board Chair Jerome Powell testifies on the economic outlook, on Capitol Hill in Washington. On Wednesday, Jan. 29, 2020, the Federal Reserve issues a statement and economic projections, followed by a news conference with Fed Chair Jerome Powell. (AP Photo/Jose Luis Magana, File)
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April 06, 2020 - 5:22 pm
WASHINGTON (AP) — The Federal Reserve said Monday it will support the government's $349 billion small business lending program, which had a rocky start Friday. The Fed said that it will buy loans that banks make to small businesses as part of the program, which is being carried out by banks and the...
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FILE - In this Thursday, April 2, 2020 file photo, Jovita Carranza, administrator of the Small Business Administration, speaks about the coronavirus in the James Brady Press Briefing Room of the White House n Washington, as Vice President Mike Pence, President Donald Trump listen. Millions of small businesses are expected to apply for a desperately needed rescue loan Friday, a stern test for a banking industry that has had less than a week to prepare for the deluge. Small businesses will be seeking loans from the $349 billion Paycheck Protection Program, which was put in place to help them retain workers and pay bills during the coronavirus pandemic. (AP Photo/Alex Brandon, File)
1010 WINS Newsroom
April 03, 2020 - 6:34 pm
NEW YORK (AP) — The federal government’s $349 billion relief program for small businesses got off to a rocky start Friday as hundreds of thousands tried to apply for desperately needed loans. Many small business owners ran into bureaucratic or technological road blocks. Some even discovered their...
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President Donald Trump hands a pen to Senate Majority Leader Mitch McConnell of Ky., after signing the coronavirus stimulus relief package in the Oval Office at the White House, Friday, March 27, 2020, in Washington. From left, White House chief economic adviser Larry Kudlow, Treasury Secretary Steven Mnuchin, McConnell, Trump, House Minority Leader Kevin McCarty, R-Calif., and Vice President Mike Pence. (AP Photo/Evan Vucci)
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April 02, 2020 - 6:23 am
WASHINGTON (AP) — President Donald Trump aims to shovel $2.2 trillion into the U.S. economy over the next few weeks to try to cushion its free fall. But that means putting his fate in the hands of banks, profit-minded businesses and government bureaucrats he has frequently derided, along with a man...
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FILE - In this March 18, 2020 file photo, visitors to the Department of Labor are turned away at the door by personnel due to closures over coronavirus concerns. The coronavirus pandemic has already hurt many households financially.  Americans have been hit with layoffs, furloughs and reduced hours across the country. Those who have not are still facing massive economic uncertainty. Experts say it's more important than ever to manage your budget, reach out to lenders and seek protections available to those hit by the economic impact of the virus. (AP Photo/John Minchillo, File)
1010 WINS Newsroom
March 31, 2020 - 3:22 pm
The coronavirus has dealt a financial blow to millions of Americans and now April's bills are coming due. The good news is there is help available. Reach out immediately to your mortgage lender, student loan servicer or utility provider to see what's available. Other assistance, such as stimulus...
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FILE - In this Tuesday, March 3, 2020 file photo, Federal Reserve Chair Jerome Powell pauses during a news conference to discuss an announcement from the Federal Open Market Committee, in Washington. In a series of sweeping steps, the U.S. Federal Reserve will lend to small and large businesses and local governments as well as extend its bond buying programs. The announcement Monday, March 23 is part of the Fed's ongoing efforts to support the flow of credit through an economy ravaged by the viral outbreak. (AP Photo/Jacquelyn Martin, File)
1010 WINS Newsroom
March 31, 2020 - 9:48 am
WASHINGTON (AP) — The Federal Reserve is intervening once again to try to smooth out the world's lending markets, this time by lending dollars to other central banks in exchange for Treasurys. The Fed's move Tuesday marks its latest aggressive effort to keep borrowing rates down and ensure that...
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