Small-dollar loans highlight banks’ coronavirus relief efforts

With the novel coronavirus pandemic shutting down nearly every aspect of daily life, banks have begun extending cheap credit and other forms of relief to help customers withstand the economic shocks. Liberty Bank in Middletown, Conn., for example, will soon begin making unsecured consumer loans of up to $5,000 at no interest for its customers. The $5.9 billion-asset bank has committed $5 million to that loan program to go along with other customer relief efforts.