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Corporations have tapped more than $124 billion in lines in the past three weeks; rating agency says virus “could wipe out a full year of U.S. banking profits.”

The standard is playing a foundational role for banks in the transformation of their infrastructures, with the rich messaging format delivering business benefits and enabling enhanced customer propositions, says Icon Solutions' Lauren Jones.

Canada’s small businesses have lagged behind the U.S. in adopting digital commerce for a variety of reasons, but coronavirus might send things in a new direction.

While analysts agree banks are in better shape than in 2008, lawmakers are dusting off a crisis-era tool used by the Federal Deposit Insurance Corp. to soothe potential liquidity fears during the coronavirus pandemic.

With seven in 10 rooms sitting empty amid the coronavirus outbreak, hotel and banking groups are urging policymakers to open up the Term Asset-Backed Securities Loan Facility.

The company is one of the first to share information on impacted clients, forbearance requests and emergency loan applications.

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.

Details of the $2 trillion deal were still fluid Wednesday, but lawmakers were closing in on a plan that would aim to put lenders and consumers alike on stronger financial footing as they weather the coronavirus pandemic.

Mastercard is part of an expanding trend toward easing restrictions to entice consumers to choose contactless payments over cash and plastic during the coronavirus.

While loans continued to increase, growth was slower than one year previously and membership was flat.