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April 2, 2020 | Media Coverage

Ken Ehrlich and Tom Curry, partners in Nutter’s Corporate and Transactions Department and co-leaders of the firm’s Banking and Financial Services group, discussed how banks are reacting during the coronavirus pandemic in American Banker. In the article, “Can banks help rescue country without undercutting themselves?”, Tom noted that forgoing executive pay increases may simply be a matter of good leadership. “You need to lead by example, and I think after the last crisis and some of the negative public reaction toward bankers, I think there’s a much greater sensitivity to leading by example. If you were cutting line people’s salaries or hours, then leadership principles would dictate that you share the pain,” said Tom. Speaking about how banks are doing all they can to help customers, Ken said, “Our clients are obviously nervous about all the laws and rules, but the kind of crisis we’re in now requires that people become focused on their role as good corporate citizens and do the right thing. I think there’s a heightened focus on trying to essentially fulfill your role as a key player in the communities and serve as a support mechanism.”