Stamford-based First County Bank’s charitable foundation will donate $50,000 to Fairfield County shelters and food pantries in an effort to support nonprofits impacted by the COVID-19 pandemic.
J.C. Penney said Thursday that it will start closing 154 of its stores next week in what it is calling the first phase of its efforts to shrink its footprint.
More than 45 banks and credit unions in Connecticut have agreed to extend their participation in the CT Mortgage Relief Program, which helps consumers facing financial hardships during the pandemic. The program was set to expire on May 31. It will now run through July 30.
The U.S. unemployment rate fell unexpectedly in May to 13.3 percent – still on par with what the nation witnessed during the Great Depression – as states loosened their coronavirus lockdowns and businesses began recalling workers.
The Senate on Wednesday passed legislation to make it easier for businesses struggling during the coronavirus pandemic to take advantage of a payroll subsidy program that’s been a central part of Washington’s response to the corresponding economic crisis.
Nearly 1.9 million people applied for U.S. unemployment benefits last week, the ninth straight decline since applications spiked in mid-March, a sign that the gradual reopening of businesses has slowed the loss of jobs.
Just as quickly as the COVID-19 pandemic bolted across the country, that’s how fast the financing situation has changed for homebuyers. And whether the mortgage market will return to “normal” once the scourge subsides is anybody’s guess.
When determining eligibility for unemployment benefits, Connecticut’s Department of Labor is now allowed to consider whether returning to work during the cononavirus pandemic would pose an “unreasonable risk” to a person’s health or the health of their household.