Finance

Visa has seen tepid returns of payments volume as economies reopen, but the renewed virus cases and government responses have created an extra layer of uncertainty — particularly for cross-border transactions and travel.

The subprime lender cited low odds that Washington will deliver further economic relief, and the fact that $1.5 billion of loans whose deferral period expired are now more than 30 days behind.

Even as consumers shift more spending away from cash and the market for personal travel picks up, the coronavirus pandemic is still exerting a heavy toll on Mastercard's consumer and corporate spending.

Craig Dahl said working seven-day weeks to shepherd the integration with Chemical and then the combined company’s coronavirus response led to his abrupt retirement.

The global bank, which has already closed more than 30% of its U.S. branches this year, indicated that the pandemic is prompting it to adjust its plans on the fly.

Ludwig, an ex-banking regulator and CEO of Promontory Financial Group, describes how economic conditions for middle- and low-income Americans have declined and advocates a living wage, investment in infrastructure, smart regulation and other solutions.

Traditional lenders must embrace fintech underwriting tools that would help women- and monitory-owned businesses get loans they are too often denied.

Deposits have piled up, curtailing overdrafts and other fees. The trend could force lenders to find other ways to make money — or start cutting to the bone.

The about-face followed a swift backlash from affected employees, who earn more than $250,000 a year, according to people with knowledge of the situation.

The company's Silicon Valley Bank unit reduced its loan-loss cushion by $52 million. Private-equity and VC clients have warmed to the practice of doing deals virtually, which increases lending opportunities, SVB executives said.