ABA Banking Journal
No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
SUBSCRIBE
ABA Banking Journal
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
No Result
View All Result
No Result
View All Result
ADVERTISEMENT
Home Economy

Fed Survey: Economic Results of COVID Outweigh Health Risks for LMI Communities

September 2, 2020
Reading Time: 1 min read

Economic and business-related effects vastly outrank health outcomes when it comes to the impact of COVID-19 on low-to-moderate-income communities, according to a Federal Reserve survey today. Thirty-eight percent of respondents—financial institutions, nonprofits, government agencies and other organizations serving LMI individuals and neighborhoods—ranked income loss and unemployment as the COVID-19 result most affecting LMI communities, followed by effects on businesses at 24%. Thirteen percent cited effects on education as the top impact, and just 6% gave health the top ranking.

Nearly two-thirds of respondents said the coronavirus pandemic has created significant disruption and a difficult recovery for LMI communities. Fifty-six percent said they expect LMI individuals and neighborhoods to take at least a year to return to pre-COVID conditions.

ADVERTISEMENT
Tags: CoronavirusEconomic inclusionSurveys
ShareTweetPin

Related Posts

Fed, FDIC withdraw statements on managing risks for crypto

Banking agencies release statement on crypto-asset safekeeping

Compliance and Risk
July 14, 2025

The Federal Reserve, FDIC and OCC released a joint statement on potential risk-management considerations related to holding crypto-assets on their customers’ behalf, or crypto-asset safekeeping.

OCC to merge community bank, large bank supervision departments

OCC removes disparate impact from bank examinations

Compliance and Risk
July 14, 2025

The OCC has removed references to disparate impact liability in its documentation and directed examiners to no longer look for it in their bank exams.

Nearly $500B sent through Zelle in first half of 2024

Zelle grows to more than 2,300 financial institutions

Newsbytes
July 14, 2025

The total number of institutions on Zelle is now more than 2,300, with 95% institutions either community banks or credit unions.

CFPB releases mortgage servicing proposal, overhauls loss mitigation framework

ABA, associations seek clarity about Fannie, Freddie credit scoring change

Mortgage
July 11, 2025

The recent announcement that Fannie Mae and Freddie Mac will expand credit scoring options for mortgages is a promising first step in creating a scoring system to better serve creditworthy Americans, but there remain several questions about how...

ABA Data Bank: Commodity inflation makes Fed’s job harder

ABA DataBank: Copper prices rise on tariff announcement

Economy
July 11, 2025

With the Trump administration announcing a 50% tariff on copper imports starting August 1, copper futures prices surged in response.

ABA donates to Texas flood relief efforts, urges bankers to contribute

FDIC issues regulatory relief guidance for Texas

Compliance and Risk
July 11, 2025

The FDIC released guidance with steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Texas recently affected by severe storms and flooding.

NEWSBYTES

Banking agencies release statement on crypto-asset safekeeping

July 14, 2025

OCC removes disparate impact from bank examinations

July 14, 2025

Zelle grows to more than 2,300 financial institutions

July 14, 2025

SPONSORED CONTENT

Navigating Disruption in Ag Lending – Why Tariffs Are Just the Tip of the Iceberg

Navigating Disruption in Ag Lending – Why Tariffs Are Just the Tip of the Iceberg

July 1, 2025
AI Compliance and Regulation: What Financial Institutions Need to Know

Unlocking Deposit Growth: How Financial Institutions Can Activate Data for Precision Cross-Sell

June 1, 2025
Choosing the Right Account Opening Platform: 10 Key Considerations for Long-Term Success

Choosing the Right Account Opening Platform: 10 Key Considerations for Long-Term Success

April 25, 2025
Outsourcing: Getting to Go/No-Go

Outsourcing: Getting to Go/No-Go

April 5, 2025

PODCASTS

Breaking down the bank-related provisions in the big budget bill

July 10, 2025

Podcast: Inside ABA’s new Treasury Check Verification System API

June 25, 2025

Podcast: Staying close to clients amid tariff-driven volatility

June 18, 2025
ADVERTISEMENT

American Bankers Association
1333 New Hampshire Ave NW
Washington, DC 20036
1-800-BANKERS (800-226-5377)
www.aba.com
About ABA
Privacy Policy
Contact ABA

ABA Banking Journal
About ABA Banking Journal
Media Kit
Advertising
Subscribe

© 2025 American Bankers Association. All rights reserved.

No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive

© 2025 American Bankers Association. All rights reserved.