Cyberattack criminals who are plaguing banks are hitting specific Web pages up to 20 million times a minute, experts say. Banks are improving in their efforts to keep sites up and running, but it will be a challenging atmosphere for the next few months, because there is "a lot of programming that needs to be done," said Avivah Litan, an analyst with Gartner Research.
Banks restarted loaning to customers with badly damaged credit, including those who recently declared bankruptcy. In December, credit card issuers gave 1.1 million cards to people with a poor credit history, a 12.3% increase compared with December 2010.
There aren't enough loans being made to small businesses, writes Scott Shane of Case Western Reserve University. "Federal Reserve Chairman Ben Bernanke ... needs to get the banks to loosen up their lending standards if he wants [to] bring the small business credit market to the right temperature," he writes. But it's also important to avoid making credit too easy to get, which creates its own problems, he writes.
Washington Real Estate Investment Trust and Crimson Partners are restarting a multifamily development project in Arlington, Va. WRIT is taking majority ownership in the $43.5 million project with a 90% stake.