MSN Money: Banks Have No Idea Who’s Creditworthy Anymore

MSN Money: Banks Have No Idea Who’s Creditworthy Anymore. “Lenders that are having a tough time spotting risky loan applicants are approving fewer borrowers for credit cards, auto loans and other consumer debt. They are also hunting for new data sets that could indicate who is in financial trouble and how much they need to set aside to cover soured loans. The Federal Reserve last week said the biggest U.S. banks could be saddled with as much as $700 billion in loan losses in a prolonged downturn.”

Wired: A New Card Ties Your Credit to Your Social Media Stats

Wired: A New Card Ties Your Credit to Your Social Media Stats. “SPENCER DONNELLY, WHO goes by TheRussianBadger on YouTube, has cultivated an audience of nearly 2.7 million subscribers for his gaming videos. For years, business has been rosy. YouTube shares a percentage of the ad revenue on each of his videos, and the money is good enough that playing video games on camera has become a full-time job. A few years ago, he even incorporated The Russian Badger, legitimizing his YouTubing business. The only problem: no bank would give him a serious credit card.”

EXCLUSIVE: Bankruptcy cases plunge during coronavirus pandemic (WXII)

WXII: EXCLUSIVE: Bankruptcy cases plunge during coronavirus pandemic. “The number of bankruptcy filings nationwide during the coronavirus pandemic has actually plunged, down 34 percent for individuals and down 28 percent for businesses. Some states saw even steeper drops, including reductions of filings by individuals of 46 percent and 54 percent in Massachusetts and New York, respectively…. At first glance, it’s a counter-intuitive finding during the worst economy since the Great Depression. But Chris Mayfield, a business manager at Fitch Solutions for the PacerMonitor product, says trillions in federal stimulus and aid programs are temporarily keeping families and businesses afloat and out of bankruptcy court.”

MarketWatch: Dow plunges 7%, marks worst day since March as Fed’s grim outlook and rising cases of coronavirus unsettle bulls

MarketWatch: Dow plunges 7%, marks worst day since March as Fed’s grim outlook and rising cases of coronavirus unsettle bulls. “U.S. stocks on Thursday marked the worst day since the height of the coronavirus-induced rout, amid signs of a re-acceleration of cases of COVID-19, and as investors digested Wednesday’s sobering economic outlook from Federal Reserve Chairman Jerome Powell. The market moves came even as the number of Americans filing for first-time jobless benefits declined again in the most recent week.”

Exclusive: ECB prepares ‘bad bank’ plan for wave of coronavirus toxic debt (Reuters)

Reuters: Exclusive: ECB prepares ‘bad bank’ plan for wave of coronavirus toxic debt. “European Central Bank officials are drawing up a scheme to cope with potentially hundreds of billions of euros of unpaid loans in the wake of the coronavirus outbreak, two people familiar with the matter told Reuters.”

Paul Scherrer Institute: Life cycle assessment of cars – new web tool helps consumers and researchers

Paul Scherrer Institute: Life cycle assessment of cars – new web tool helps consumers and researchers. “Researchers at the Paul Scherrer Institute have developed a web tool called the Carculator that can be used to compare the environmental performance of passenger cars in detail. The program determines the environmental balance of vehicles with different size classes and powertrains, and presents the results in comparative graphics. The entire life cycle of the passenger cars is taken into account, including the manufacture of the vehicles and the environmentally relevant emissions from driving.”

PR Newswire: Nav Launches Free Calculator to Help Business Owners Estimate PPP Forgiveness (PRESS RELEASE)

PR Newswire: Nav Launches Free Calculator to Help Business Owners Estimate PPP Forgiveness (PRESS RELEASE). “Nav, a free service that provides business owners the fastest, easiest and most trusted path to financing, released a new tool today to help business owners calculate the amount of Paycheck Protection Program (PPP) loan forgiveness they may qualify for. The new tool — Nav’s PPP Loan Forgiveness Calculator — is free for any business owner to use.”

CNN: Evictions loom as state freezes on rent payments expire

CNN: Evictions loom as state freezes on rent payments expire. “As states reopen, tenants are facing the end of freezes on rent payments and evictions put in place at the start of the pandemic despite still-rising joblessness and a stalled economy. The freezes didn’t cancel monthly payments, which means that with June 1 looming, renters may suddenly owe three months’ rent to cover April and May as well.”

MakeUseOf: Netflix Will Now Cancel Your Account Unless You Use It

MakeUseOf: Netflix Will Now Cancel Your Account Unless You Use It. “If you pay for Netflix but don’t actually use the streaming service, you should probably cancel your subscription. After all, that’s several dollars leaving your account each month for nothing. Just like a gym membership for people who no longer work out. However, even if you don’t cancel your own Netflix you may have it cancelled for you. This is because Netflix has announced it’s going to start cancelling inactive accounts automatically in order to stop people spending money on something they don’t use.”

Washington Post: The pandemic upended child care. It could be devastating for women.

Washington Post: The pandemic upended child care. It could be devastating for women.. “The crisis has pushed the country’s fragile child-care ecosystem to the brink. Facilities in an industry with already-small profit margins struggled to access state and federal aid as first-come, first-served small-business loans ran out. They are now facing costly safety precautions, such as limiting class sizes and purchasing masks, gloves and sanitizing cleaner. Industry groups predict that one-third to half of child-care centers may not reopen at all.”

Los Angeles Times: One-fifth of Americans fear they can’t pay June rent or mortgage, federal survey finds

Los Angeles Times: One-fifth of Americans fear they can’t pay June rent or mortgage, federal survey finds. “More than half of California households have seen a loss of income due to the coronavirus pandemic, the U.S. Census Bureau said Wednesday, based on a newly launched weekly survey. Since March 13, 54.5% of California adults surveyed said they or another adult in their home had lost income, and an additional 40.8% expected their households to earn less from work over the next four weeks. Nationally, more than a fifth of adults surveyed reported they had slight or no confidence in their ability to pay their rent or mortgage in June.”

Coronavirus: Call for action over refunds for cancelled flights (BBC)

BBC: Coronavirus: Call for action over refunds for cancelled flights. “Like many others across the UK, Emily Liddle and George Ridley are struggling to secure a refund for a holiday which was cancelled amid the coronavirus pandemic. The couple, who lived in Edinburgh for years, were due to fly to Japan in March and spend three months travelling around Asia. They say they are about £2,000 out of pocket for flights from two airlines who have refused to refund in cash, instead offering vouchers for future flights.”

Consumer Financial Protection Bureau: Protections for renters during the coronavirus pandemic

Consumer Financial Protection Bureau: Protections for renters during the coronavirus pandemic. “If you’re having trouble making rent payments as a result of the coronavirus pandemic, you are not alone. Across the country, many tenants are facing job losses, furloughs, or reduced hours, and having to make tough financial decisions in order to make ends meet. Fortunately, there are steps all renters can take, as well as many significant protections from eviction that apply in certain situations.”

IRI: RI Launches IRI CPG Inflation Tracker to Track Price Changes Amid COVID-19 and Beyond

IRI: IRI Launches IRI CPG Inflation Tracker to Track Price Changes Amid COVID-19 and Beyond. “IRI®, a global leader in innovative solutions and services for consumer, retail and media companies, today announced the launch of the IRI CPG Inflation Tracker™ on its free, online COVID-19 Data Dashboard. The new tool provides a standard metric for tracking weekly price-per-unit changes for consumer packaged goods compared to the year-ago period across departments, including fixed and random weight products, grocery aisles and retail formats. This resource allows CPG manufacturers and retailers to assess in real time the way pricing is evolving due to the supply chain and economic impacts of the pandemic and quickly adapt their strategies.”

News@Northeastern: How Will The Economy Bounce Back After Covid-19?

News@Northeastern: How Will The Economy Bounce Back After Covid-19?. “The COVID-19 pandemic has wrought havoc on the United States economy, where stay-at-home measures have brought certain industries—such as restaurants, hotels, and salons—almost to a complete standstill. Economists predict that the economic downturn will be sharp, but short—a prediction that rests upon the choices that government officials make during this crucial period, says economist Alicia Sasser Modestino.”