Business owners are changing banks at three times normal levels, a trend researchers attribute to their difficulty in obtaining emergency loans. If the forgiveness stage of the Paycheck Protection Program proves arduous, that rate could climb much higher.
June 22, 2020
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Flush with capital from the sale of its stake in BlackRock, PNC is willing to go big on an acquisition but would be wary of buying a bank with a heavy concentration of consumer loans, CEO William Demchak said.
Banks and other lenders are said to have poured hundreds of billions of dollars into financing private-equity firms and their investment deals in recent years. Defaults have been low, but an economic slowdown could put these relationships to the test.