Federal Reserve: Financial Profiles of Workers Most Vulnerable to Coronavirus-Related Earnings Loss in the Spring of 2020
Abstract: In spring 2020, the COVID-19 pandemic and related shutdowns had huge effects on unemployment. Using data from the Survey of Consumer Finances, we describe the financial profiles of US families whose workers were most vulnerable to coronavirus-related earnings losses in the spring of 2020, based on whether a particular worker was deemed “essential” and…
FDIC: New Report Highlights the Contributions of Community Banks to the Paycheck Protection Program
An analysis of call report data from FDIC-insured banks finds that community banks are playing a vital role in supporting small businesses through the Small Business Administration’s Paycheck Protection Program (PPP). Community banks hold nearly a third of all bank-held PPP loans, compared to holding only 15 percent of all bank loans, according to a…
CDFI Fund: 2019 Annual Certification and Data Collection Summary Report Released
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) today released a summary snapshot report from the fiscal year (FY) 2019 Annual Certification and Data Collection Report (ACR) reporting cycle. Community Development Financial Institutions (CDFIs) must submit an ACR on an annual basis within 90 days of the end of their…
ABA: Record Number of Consumers Pay Off Credit Cards in Full as Spending Falls in Second Quarter 2020
As consumer spending contracted sharply and credit card purchase volumes fell across risk tiers in this year’s second quarter, the share of U.S. cardholders that paid their balance in full reached record levels, according to the American Bankers Association’s latest quarterly Credit Card Market Monitor. The November 2020 Monitor, which reflects credit card data from…
Census Bureau: Household Pulse Survey Phase 2 Biweekly Data Released
The U.S. Census Bureau today released new data from the second phase of the experimental Household Pulse Survey. The Household Pulse Survey is the result of an effort by the Census Bureau and other federal statistical agencies to document temporal trends in how individuals are experiencing business curtailment and closures, stay-at-home orders, school closures, changes in the…
ABA: National Survey Shows Americans Trust Banks Most to Keep Their Information Safe
U.S. adults trust banks more than any other entity – including healthcare providers, non-bank payment providers and the government – to keep their information secure and private, according to a new survey conducted by Morning Consult on behalf of the American Bankers Association. In addition, all age groups surveyed (Gen Z, Millennials, Gen X and…
SBA: Historic Small Business Lending for Fiscal Year 2020 Achieved
The U.S. Small Business Administration announced Fiscal Year 2020 summary loan data of the financial assistance provided through traditional loan program lending as well as aid provided via the CARES Act. Loans guaranteed through traditional SBA lending programs exceeded $28 billion; however, enactment of the CARES Act dramatically increased loan volume guaranteed by the Agency: In FY20,…
FHFA: House Price Index Up 1.5 Percent in August; Up 8.0 Percent from Last Year
House prices rose nationwide in August, up 1.5 percent from the previous month, according to the latest Federal Housing Finance Agency House Price Index (FHFA HPI®). House prices rose 8.0 percent from August 2019 to August 2020. FHFA also revised its previously reported 1.0 percent price change for July 2020 to 1.1 percent. For the nine census divisions, seasonally…
Census Bureau: 2020 Census Response Rate Update – 99.98% Complete Nationwide
All States Top 99%, Self-Response Beats 2010 According to updated numbers released by the U.S. Census Bureau today, 99.98% of all housing units and addresses nationwide were accounted for in the 2020 Census as of the end of self-response and field data collection operations on Oct. 15, 2020. In all states, the District of Columbia…
ABA: National Survey Shows Americans Remain Highly Satisfied with Their Bank, Appreciate Banks’ Response to COVID-19
Nine in 10 Americans with a bank account (89 percent) say they are “very satisfied” or “satisfied” with their primary bank, and 96 percent rate their bank’s customer service as “excellent,” “very good” or “good,” according to a new survey conducted by Morning Consult on behalf of the American Bankers Association. The survey, unveiled today…