Payments technology is a relative bright spot as coronavirus’ economic fears hit venture capital, since an emergency can be a catalyst for early-stage innovation designed to ease digital commerce.

The reprieve from mortgage data collection was among several changes to the agency’s supervisory and enforcement procedures to help firms responding to the COVID-19 pandemic.

Arizent, the parent company of American Banker, has conducted a broad industry survey on both the impact of the crisis and emerging responses. The survey probed continuity efforts and remote workforce enablement as well as planning and investments being pursued against future potential disruptions.

While LendingClub, Prosper, Avant and SoFi are giving existing borrowers breaks in the short term, they're considering tightening credit as the coronavirus outbreak threatens to drag the economy into a recession.

Many borrowers will suffer unless the program, the central bank's latest response to the coronavirus pandemic, includes consumer loans issued by fintechs.

The joint statement said examiners will not impede banks’ responsible efforts to offer open lines of credit, closed-installment loans or other products to borrowers dealing with fallout from the pandemic.

With schools across South Carolina closed until the end of April, the credit union is offering a perk for parents who can't do their jobs remotely.

Arizent, the parent company of PaymentsSource, has released a broad industry survey on both the impact of the crisis and emerging responses. Many companies are now managing remote workforces, either by choice or government mandate. Certain industries such as financial services, which are built on face-to-face interaction, are now living in an environment devoid of any human touch.