Banking Groups Urge More Funding for COVID-19 Paycheck Protection Program
Testimony to the pace at which COVID-19 news changes, financial lobbyists are already clamoring for more congressional appropriations for the Paycheck Protection Program as the original cap nears. The American Bankers Association, Bank Policy Institute, Consumer Bankers Association and the Financial Services Forum sent a joint letter to congressional leaders. And the Independent Community Bankers of America has called not only for more money, but earmarking 25% of the extra funds for community lenders. Update: By mid-morning Eastern Time April 16 SBA announced that the original funding for PPP had been exhausted and that no further applications would be processed at this point (pending additional funding).
( Read More: Banking Must Support Small Businesses Beyond Providing Loans )
‘All Pandemics Are Local’ and 4 Other Guidelines Used by Google Marketing
Joshua Spanier, Google’s Global Marketing VP for Media, writes in a “Think With Google” blog that “Though this is a global pandemic, its impact is local. We’ve found it helpful to carry that thinking into the evaluation of our marketing campaigns.” The blog covers context, creative considerations, navigating uncertainty, and two other points, very applicable to financial institution marketers.
COVID Era Communication: Major Bank Bars Staff from Zoom and Google Hangouts
Even as schools, families, companies and many financial institution officers learn the intricacies and conveniences of personal video, Standard Chartered Plc has asked employees not to use Zoom or Google Hangouts out of cybersecurity concerns. Reuters revealed the contents of a memo from bank CEO Bill Winters in an exclusive report.
Banks Set Up Quick Access Phone Line for Seniors
Three U.K. banks, all part of Lloyds Banking Group, have set up a dedicated phone line specifically for people age 70 or older to give them a break due to high increase in phone calls during the country’s ongoing coronavirus lockdown, a U.K. news site reports. The banks will also prioritize calls for other groups including those with a disability and healthcare workers.
( Read More: How Banks & Credit Unions Can Fortify Stressed-Out Customer Support )
From Gen Zer: How COVID-19 Is Changing My Generation’s Life
Just in the wake of The Financial Brand‘s own report on how the coronavirus era may impact Gen Z, an 18-year-old member of that generation published a blog with some very surprising conclusions on the website of the Society for Human Resource Management. First sentence: “I’m 18 years old. I was born two months after Sept. 11, and I am graduating from high school during an international health crisis.”
Curated Can’t-Miss COVID-19 Ads to Inspire You
Clio Network’s Ads of the World site has a special section showcasing COVID-19 ads from global brands and agencies large and small. Only one institution (Russian-based Tochka Bank) plus Intuit, are included among the 180 ads. But it’s good to see what others are doing, or just to enjoy Bill Murray doing a Groundhog Day cameo for Jeep.
( Read More: Why Financial Institutions Should Keep Advertising, But Differently )
COVID Era Marketing Moves by Non-Financial Brands Amuse and Confuse
The free Bolder Thinking Blog from Comperemedia, A Mintel Company, has been tracking trends in marketing among many kinds of brands. The latest compilation, by Rachel Arndt, Senior Research Analyst, includes an extraordinary example of COVID-19 era adaptability. The Panera Bread restaurant chain has become a grocery store: “Panera Grocery: From Our Pantry to Yours.”
How Community Financial Institutions See Economic Impact of Coronavirus
The Conference of State Bank Supervisors, the association of state banking regulators, presents the results of its quarterly Community Bank Sentiment Index. The dramatic “kicker” from the economist author: “COVID-19 will end. The economy will recover. In the meantime, as we all navigate the fires of hell from COVID-19’s economic destruction, celebrate and thank your local community banker for helping bridge the gap.”