Record Jobless Claims, Stimulus Relief and Fintech’s Role in the Crisis

In this week’s PeerIQ Industry Update they cover the explosion in jobless claims with a record setting 3.28mn as fears continue to rise over the crisis; they include a fascinating chart examining how coronavirus is having a ripple effect across the economy as a whole; the more than $2tn stimulus will help to inject much needed capital into the economy and provide small businesses a chance to survive in the near term; banks are hoping regulators will lift some financial crisis legislation so they can lend more without the worry of breaching capital buffers; fintechs could be in a unique position to help during the crisis with the speed at which they can lend and the Fed said they will approve these lenders to help push the money out as quick as possible. PeerIQ

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