Banks Use Short Term Funding to Help Customers

Banks have not been sitting around waiting for the government stimulus to help customers; Mandy banks have started to extend cheap small dollar loans and offered customers deferments on loan payments; the government funding will help to augment these efforts and continue them over a longer period of time; “The banking system coming into this crisis is very strong, very well capitalized and has the cushion to be flexible with our customers,” Liberty Bank President and CEO David Glidden said to American Banker. “I think it’s incumbent upon us as an industry to use that strength to do these proactive things.”; customers want as much certainty as possible in times of crisis and banks of all stripes are working to try to give customers that piece of mind as they focus on the health of them and their families. American Banker