NC BANKS WORRIED The head of the North Carolina Bankers Association are worried, too – not so much about demand but conditions.
Peter Gwaltney issued a warning about the program’s requirements. He called conditions of the program “unworkable,” according to American Banker.
“It’s asking a lot of banks to take on unmanageable and immeasurable risk,” Gwaltney said. “The delivery channel is shrinking by the day. We don’t know what to expect tomorrow.”
We can expect huge Blame Trump scenes tomorrow at the Banks.
We are all welfare queens now.
$350 billion available for loans, out of $2 trillion. What am I missing her? /s
Great time to be a loan shark.
Seems I must be missing ‘something’.
A few weeks ago the word was being put out by MSM that EVERYONE had better get on unemployment as the states were going to wave the wait and process immediately.
Part of the gazillion stimulus was going to states to help with the UEI.
Today, ALL the MSM doom&Gloomers are AMAZED at the # of people applying for UE.
States are pleading for MONETARY help.
Thought I heard something about how the govt was going to need confirmation of bank accounts etc for those not on auto deposit.
Don’t imagine that has given the scammers plenty of ammo to hit the ‘airwaves’ with all sorts of ‘official looking’ forms to a/get your bank account and/or make sure you confirm who you are by giving US your SS# and Bank routing #s....
Now during the STOU PDJT ‘mentions’ the beervirus, early on he wants to stop flights from China etal and the Congress went after him with both fists calling him a liar and racist.
NOW Schiff for brains and idiot pelosi are supposedly going to start impeachment proceedings because PDJT ‘covered up’ the beervirus until it was too late.
The way things are going and if we start having interruptions in the power grid/internet etc, things will get ugly real fast....
I’m seeing how hysterical grown people are behaving.
WTH would they be doing if they had to face what President Trump has to face every day.
Where the hell are the John Waynes and Clint Eastwoods and Al Pachinos...guys with guts.
Bankers are notorious wimps, for Heaven’s sake, man up and try to act like adults.
This kind of wimpification really steams me.
Yeah, I tried for that 350B. I got nothing but chaos! Calling my congressman!
We filled out the form yesterday and had to submit it through the drive up window. Cant go in the banks and can’t call them. There is a new thing called the internet. Why they didn’t have the process online us beyond me. Instead we had poorly designed PDF forms and no way to submit to a person. I don’t even know if our bank is involved in this boondoggle. It may be time to close the business and practice society distancing. The government has made it so difficult and costly to be in business it is not worth the headache. The left hates small business and are happy about 50% going out.
Your post is 100% correct! I deal with small businesses as executive director of a trade group. I spent almost two hours on a webinar today with one of the top finance law firms in the country and representatives from DC.
There are many more questions (and confusion) than there are answers. A bank may take your application but don’t expect any quick turn-around and be prepared for many questions. Think of the process like an IRS financial audit! The banks do not know the answers, yet.
Yeah, all the funds were diverted to The Kennedy Center.