Tom Naratil: Banks must do more to help during coronavirus recession - Business Insider

Tom Naratil is president of UBS Americas and co-president of UBS Global Wealth Management.

Such a program must focus on two priorities. The first is non-traditional 'infrastructure 2.0' – updating healthcare facilities, providing the equipment necessary for the medical community to fight this and future diseases, and enhancing internet access to furnish critical connectivity for remote workers, students, and patients. Developing these areas will also supply the economy with critically needed jobs and make it more resilient to future pandemics.

For those working and studying remotely, internet access is another increasingly urgent issue, especially in depressed rural, urban and tribal areas. More than 20 million Americans lack broadband, according to Federal Communications Commission estimates, with at least one private study indicating the number could be twice as large. Bridging the gap is achievable but requires tens of billions of dollars in funding, plus short-term solutions like wi-fi to help users in the interim.

First, borrowers already use certain types of munis such as private activity bonds to fund infrastructure. Nevertheless, in some cases, their scope does not extend to broader categories of infrastructure, including investments in digital technology.

Lol

I was there 6 weeks ago.

No. Just no.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Several major US banks are being sued for unfair PPP lending practices - Business InsiderJPMorgan Chase, Wells Fargo, Bank of America and US Bank are being sued for unfair practices in their processing of Paycheck Protection Program loans. Hate to break it to you but this is all banks regardless of size Government should have done a better job on incentivizing banks on processing smaller payroll loans than larger. They did try with a tiered commission but it wasn’t effective enough. As a reminder, people should never want big government cause they rarely get things done right Unethical
Source: BusinessInsider - 🏆 729. / 51 Read more »

Big banks accused of favoring more lucrative small business loans in coronavirus programFour of America's biggest banks have been accused of harming thousands of coronavirus-hit small businesses by unfairly prioritizing emergency loan requests from large customers to earn fatter fees No... Anyone at all surprised that WellsFargo is in the mix yet again for doing the wrong thing? Is anyone surprised?
Source: CNN - 🏆 4. / 95 Read more »