Virus Fears Spark Recession Talk and FDIC Starts Approving Charter Applications

In this week’s PeerIQ Industry Update they cover the growing risk of a recession due to the coronavirus, though estimates vary widely as to how much of a downturn the economy will take; to help ease the blow lawmakers have been working through a number of stimulus packages aimed at helping small businesses and consumers; online lenders like Funding Circle have seen a 150 percent increase in loan applications; when it comes to forecasting a potential recession economists range from a 10 percent drop in GDP over the next few quarters to a slow, steady decline over the remainder of the year; there is a lot of uncertainty over the next few months and lawmakers could help to better prepare businesses for the lengthy disruption so long as they can agree on an economic package; the FDIC has also started to move forward on ILC charters as they conditionally approved Square and provided more clarity on requirements. PeerIQ

  • Emily Donato

    With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.