Shoring up customers is first step to protecting banks from coronavirus carnage, says banking expert
By Joy Wiltermuth
Corporations were right to draw down bank lines of credit as the coronavirus started to bear down on America, says Karen Petrou, an expert on financial reform and banking. But policy makers worried about mounting pressure on the nation’s banking system from pandemic fallout should first focus on shoring up workers and small businesses, Petrou, managing partner at Federal Financial Analytics, told MarketWatch. “This isn’t like 2008,” said Petrou, an expert who American Banker called “the sharpest mind analyzing banking policy today—maybe ever.”