Federal Housing Finance Agency Director Mark Calabria said a virus-induced financial crisis might give rise to more delinquencies and foreclosures than the 2007 subprime mortgage meltdown.

CUs in the Eastern European nation don’t offer online financial services, meaning a predominantly older membership base could be at increased risk for contracting COVID-19.

In supporting the economic recovery from the coronavirus pandemic, lenders have a chance to restore public trust damaged in the last financial crisis. But they face tough decisions on dividend cuts, executive pay, furloughs and deeper changes to their business model in the process.

Interchange fees are a major part of the costs merchants pay to accept payment cards. While merchants seek relief from fees during a time in which their businesses face serious damage from stay-at-home edicts because of coronavirus, the credit card companies and banks quickly began to dig in their heels.

The firms say they can't handle crushing loan demand from small and medium-sized businesses.

Online lenders can help the agency distribute loans faster as it gets set to deploy emergency funding to small businesses.

Lenders and government guarantors can use loan technology to bring immediate relief to business owners, former OCC official Jo Ann Barefoot says.

While the $2 trillion stimulus package just signed into law provides enhanced unemployment benefits, it is little solace to those out of work with dim prospects of their jobs returning to normal anytime soon.