Christopher Cline, a former Wells Fargo executive, has joined the management of a community bank in Vancouver, Wash., to help it build up its wealth management business.

Varo Money, a mobile-only startup that focuses on financial health, announced Monday it has raised more than $27 million. The global private equity firm Warburg Pincus led the round.

Royal Bank of Canada named Jefferies Group's Michael Armstrong as head of its U.S. wealth-management business.

JPMorgan Chase, Wells Fargo, Citigroup and U.S. Bancorp, along with 200 state-chartered banks and credit unions, have agreed to let borrowers skip payments for 90 days if their finances have been upended by the pandemic.

The regulation issued late on Tuesday directs state-regulated financial institutions to give mortgage borrowers at least 90 days of forbearance if they can show financial hardship resulting from the coronavirus pandemic. It also requires banks and credit unions to provide relief on ATM fees and credit card late payment fees.

With economists fearing high unemployment stemming from the pandemic, the housing finance system is grappling with how it will recoup lost revenue from delinquencies, forbearance plans and other tremors.

There has been a recent surge in organizing efforts among credit union employees. To discourage this, leaders should pay workers well, provide good benefits and be accessible.

Unionizing a workplace is an arduous process, meaning that employees who organize are dedicated to change. Executives must seize on these moments to address workers' concerns instead of reacting defensively.

There is an urgent need for a new class of security solutions that will allow people to retain control of their decentralized financial lives with confidence and safety.