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Payment-based business lending needs adjustment during shutdowns

Payments Source

Historical data doesn’t paint a sufficient picture in a business climate characterized by rapid, unexpected change and lingering uncertainty, says MSTS' Brandon Spear.

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Gov’t Shutdown Costs Creep To $11B

PYMNTS

A new report says that the government shutdown has cost the country about $11 billion in gross domestic product, and will impact the United States’ economic growth for the rest of the year. Earlier this month, Federal Reserve Chairman Jay Powell warned that an extended government shutdown could be damaging to the U.S.

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NY Fed President: Gov’t Shutdown Could Hinder Economic Growth

PYMNTS

While the Fed has hinted that it has been adjusting its U.S. 18) that the shutdown has become a hindrance for the economy, Financial Times reported. The news comes as Federal Reserve Chairman Jay Powell said earlier this month that an extended government shutdown could be damaging to the U.S.

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Study: New COVID Restrictions Could Permanently Close A Third Of US Restaurants

PYMNTS

Census Bureau data indicating a seasonally adjusted decline in restaurant sales in October — the first slippage since the industry began to claw its way back from the damage inflicted by the first wave of shutdowns. are too commonly labeled as 'super-spreaders,' and have become a convenient scapegoat for reflexive shutdowns.".

Shutdown 112
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Munchery Sued By Ex-Employees Over Shutdown

PYMNTS

The lawsuit , filed by former Munchery facilities worker Joshua Philips, cites the Worker Adjustment and Retraining Notification Act, a U.S. A new class-action lawsuit wants failed meal delivery company Munchery to pay its former employees 60 days’ worth of back wages.

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Consumer Morale Up In Major European Economies

PYMNTS

Compare the French shutdown to the economic damage — approximately $11 billion — the United States’ government shutdown caused in early 2019. In Italy, consumer confidence in January 2020 grew to 111.8 from 110.8 in December of last year.

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Restaurant Operators Say New COVID Restrictions Could Permanently Close A Third Of US Restaurants

PYMNTS

Census Bureau data indicating a seasonally adjusted decline in restaurant sales in October — the first slippage since the industry began to claw its way back from the damage inflicted by the first wave of shutdowns. are too commonly labeled as 'super-spreaders,' and have become a convenient scapegoat for reflexive shutdowns.".