Question

In: Economics

What has the US bank done during the coronavirus? Any news or article about it.

What has the US bank done during the coronavirus?

Any news or article about it.

Solutions

Expert Solution

U.S. Bank was the most significant bank among COVID-19 In The Essential 100: Business Reputation After COVID-19, the company ranked No. 64 overall and placed first among all banks.

U.S Bank has responded to the pandemic in a number of ways to benefit consumers, workers and communities, including: changing personal and small business products for customers; creating a premium pay system for front-line employees; expanding community-based distribution programs; and other improvements.
The organization is also one of the main participants in the SBA Paycheck Insurance Programme. To date, more than 97,000 borrowers have been given funding approvals, totalling more than $7.3 billion and with a possible effect of more than 840,000 employees around the country – more than 85 percent of such loans amounted to less than $100,000.

Reference- Financial Times- How are US banks affected by coronavirus? What we know and what we don’t


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