This article was published more than 2 years agoCommentGift ShareCorporate America — including Wall Street and Silicon Valley giants — is now pledging to play a bigger role in combating systemic racism across the United States, but an examination of companies’ track records shows that they have repeatedly stopped short of major overhauls during prior opportunities for change.The new corporate posture has spread across firms from nearly every industry in the past few weeks as companies rushed to respond to nationwide protests. One of the most provocative statements came from Jamie...…This article was published more than 2 years agoCommentGift ShareCorporate America — including Wall Street and Silicon Valley giants — is now pledging to play a bigger role in combating systemic racism across the United States, but an examination of companies’ track records shows that they have repeatedly stopped short of major overhauls during prior opportunities for change.The new corporate posture has spread across firms from nearly every industry in the past few weeks as companies rushed to respond to nationwide protests. One of the most provocative statements came from Jamie...WW…

This article was published more than 2 years agoCommentGift ShareFor the first time since the aftermath of the Great Recession, the Federal Reserve is putting new restrictions on how the country’s biggest banks spend capital, with an eye toward protecting the financial system from risks to the economy posed by the coronavirus pandemic.The Fed ordered the country’s 33 biggest banks, including JPMorgan Chase, Wells Fargo and Bank of America, to suspend their stock buyback programs and limit dividend payments to shareholders in the third quarter. The banks must also submit new plans for...…This article was published more than 2 years agoCommentGift ShareFor the first time since the aftermath of the Great Recession, the Federal Reserve is putting new restrictions on how the country’s biggest banks spend capital, with an eye toward protecting the financial system from risks to the economy posed by the coronavirus pandemic.The Fed ordered the country’s 33 biggest banks, including JPMorgan Chase, Wells Fargo and Bank of America, to suspend their stock buyback programs and limit dividend payments to shareholders in the third quarter. The banks must also submit new plans for...WW…

This article was published more than 2 years agoCommentGift ShareA backlog of eviction cases is beginning to move through the court system as millions of Americans who had counted on federal aid and eviction moratoriums to stay in their homes now fear being thrown out.A crisis among renters is expected to deepen this month as the enhanced unemployment benefits that have kept many afloat run out at the end of July and the $1,200-per-adult stimulus payment that had supported households earlier in the crisis becomes a distant memory.Meanwhile, enforcement of federal moratoriums on some...…This article was published more than 2 years agoCommentGift ShareA backlog of eviction cases is beginning to move through the court system as millions of Americans who had counted on federal aid and eviction moratoriums to stay in their homes now fear being thrown out.A crisis among renters is expected to deepen this month as the enhanced unemployment benefits that have kept many afloat run out at the end of July and the $1,200-per-adult stimulus payment that had supported households earlier in the crisis becomes a distant memory.Meanwhile, enforcement of federal moratoriums on some...WW…

This article was published more than 2 years agoCommentGift ShareFor 13 years, Danny Catalanotto paid the more than $2,000 mortgage on his Bowie, Md., home on time every month. When work as a church organist dried up in mid-March, Catalanotto says, he expected his mortgage company to offer help.Instead, a large Texas-based mortgage-collection firm called Mr. Cooper said Catalanotto could defer his monthly payments temporarily but would have to pay it all back in one lump sum.“It could be $8,000 to $10,000 by then. How do you come up with that if you’ve been out of work?” he said.While...…This article was published more than 2 years agoCommentGift ShareFor 13 years, Danny Catalanotto paid the more than $2,000 mortgage on his Bowie, Md., home on time every month. When work as a church organist dried up in mid-March, Catalanotto says, he expected his mortgage company to offer help.Instead, a large Texas-based mortgage-collection firm called Mr. Cooper said Catalanotto could defer his monthly payments temporarily but would have to pay it all back in one lump sum.“It could be $8,000 to $10,000 by then. How do you come up with that if you’ve been out of work?” he said.While...WW…

This article was published more than 2 years agoCommentGift ShareA new lending program for small businesses maxed out Thursday morning and stopped accepting claims, but negotiations picked up between Democrats and the Trump administration to address that growing problem as the nation plunged into unemployment levels .The Small Business Administration said on its website that the agency “is unable to accept new applications … based on available appropriations funding.”The $350 billion Paycheck Protection Program was a central piece of the massive $2 trillion economic rescue law passed...…This article was published more than 2 years agoCommentGift ShareA new lending program for small businesses maxed out Thursday morning and stopped accepting claims, but negotiations picked up between Democrats and the Trump administration to address that growing problem as the nation plunged into unemployment levels .The Small Business Administration said on its website that the agency “is unable to accept new applications … based on available appropriations funding.”The $350 billion Paycheck Protection Program was a central piece of the massive $2 trillion economic rescue law passed...WW…

This article was published more than 2 years agoCommentGift ShareSince signing an executive order a week ago, President Trump has repeatedly said that his administration was "” and “.” The order would “” solve a looming crisis among renters at risk of losing their homes, Trump said.But across the country, evictions are continuing.In New Orleans, city courts have received more than 500 eviction complaints since late mid-June when a state eviction ban was lifted. There are no signs of it slowing down after Trump’s action, local officials say.In Milwaukee, where thousands of people are...…This article was published more than 2 years agoCommentGift ShareSince signing an executive order a week ago, President Trump has repeatedly said that his administration was "” and “.” The order would “” solve a looming crisis among renters at risk of losing their homes, Trump said.But across the country, evictions are continuing.In New Orleans, city courts have received more than 500 eviction complaints since late mid-June when a state eviction ban was lifted. There are no signs of it slowing down after Trump’s action, local officials say.In Milwaukee, where thousands of people are...WW…

This article was published more than 2 years agoCommentGift SharePresident Trump on Saturday attempted to bypass Congress and make dramatic changes to tax and spending policy, signing executive actions that challenge the boundaries of power that separate the White House and Capitol Hill.At a news event in Bedminster, N.J., Trump said the actions would provide economic relief to millions of Americans by deferring taxes and, he said, providing temporary unemployment benefits. The measures would attempt to wrest away some of Congress’s most fundamental, constitutionally mandated powers —...…This article was published more than 2 years agoCommentGift SharePresident Trump on Saturday attempted to bypass Congress and make dramatic changes to tax and spending policy, signing executive actions that challenge the boundaries of power that separate the White House and Capitol Hill.At a news event in Bedminster, N.J., Trump said the actions would provide economic relief to millions of Americans by deferring taxes and, he said, providing temporary unemployment benefits. The measures would attempt to wrest away some of Congress’s most fundamental, constitutionally mandated powers —...WW…