Trump Threatens To Adjourn Congress | Hidden COVID-19 Spreaders | Online Loans In Trouble

Plus: Drake, Metallica, Andrea Bocelli Climb YouTube Charts

Know Now

• Trump Threatens To Adjourn Congress

• Face Masks To Become ‘New Normal’ For New York, Connecticut, Maryland And Pennsylvania

• Europe's Fifth Largest Airline Plans A Future Without The Middle Seat

• Business Leaders Urge Trump To Scale Up Coronavirus Testing

• Goldman Sachs Predicts 37 Million Jobs Lost By The End Of May

Top Take-Aways

Over half the world has asked the IMF for emergency funding. The International Monetary Fund has a $1 trillion war chest to dole out to member countries as they try to contain the spread of coronavirus and mitigate its economic impact.

The IRS has confirmed that social security recipients will automatically receive stimulus checks. Payments should go out no later than early May without taking further action. Nothing yet from Congress to help out veterans.

The June SAT is canceled—and the College Board may offer a remote test in September. “The simple reason is there are things more important than the test,” says David Coleman, CEO of the College Board. 

People with COVID-19 are at their most infectious right when symptoms begin, or even a few days before, presenting yet another hurdle for containing its spread. Researchers suggest mass contact tracing needs to include up to three days of tracking movement.

Coronavirus Frontlines, a new Forbes special series, has enlisted MDs, virus researchers and epidemiologists—the generals, intelligence analysts, spies, engineers and foot soldiers in the war against COVID-19. Here, the latest from the battlefield. 

Artists as varied as Drake, Metallica and Andrea Bocelli are climbing the YouTube charts. The Canadian rapper, American heavy-metal band and Italian opera singer reflect the world’s diverse musical tastes at the time of coronavirus lockdown.

Today's Must-Read

Banks like JPMorgan and Wells Fargo are setting aside record amounts to cover coming losses from Americans unable to pay their credit cards, auto loans and home mortgages. But according to data provided by New York City fintech Dv01, loan delinquencies are already a serious matter for online lenders. Two billion dollars’ worth of consumer fintech loans are already struggling.

Some 12% of consumer loans made by online lenders are “impaired,” a near doubling in three weeks. That means the borrower has skipped a payment either by negotiating a due-date extension with a lender or simply by not paying.

“With COVID-19 hammering the U.S. economy in untold ways, our investing team hunted for data that could give new insight into the wreckage left by the pandemic, says Antoine Gara, who worked on this report with Jeff Kauflin. “One analyst told us he'd never seen such a fast increase in his three decades covering finance.”

“In my 30 years of doing this, I’ve never seen payments impairments spike so quickly,” says William Ryan, a managing director at investment bank Compass Point. 

Across Forbes

Forbes Advisor: Stimulus checks are coming to offer relief to Americans during the COVID-19 crisis. If you don't get one, here's five reasons why.

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