Banks Experiencing Decrease in Transaction Volume During Pandemic

National Bank of Commerce tells Fox 21 that they have been experiencing a decrease in transaction volume, however, loan applications have picked up.

DULUTH, Minn. – Banks have been experiencing a mix of customer response amid the COVID-19 crisis.

National Bank of Commerce tells Fox 21 that they have been experiencing a decrease in transaction volume, however, loan applications have picked up.

Officials say the state of banks is better than they were during the subprime mortgage crisis.

“The banking system is much stronger than what it was 2007, 2008, so we feel good about that. Our customers are also in better shape,” said Steve Burgess, the CEO, and president of National Bank of Commerce.

National Bank of Commerce has also been using its mobile app to help with communication between customers.

Categories: News, News – Latest News