Finance

The CEO says he is getting stronger and working remotely; if the lockdown lasts several months, the GSEs may need a bailout, FHFA head Mark Calabria says.

The agencies will give the industry another month to submit feedback on the so-called covered fund portion of the rule "in light of potential disruptions resulting from the coronavirus.”

If Capitol Hill plans another round of stimulus, Democrats could have more leverage to demand steps such as suspending overdraft fees – a measure which could have a big impact on credit union revenue.

The change — effective immediately — will reduce capital demands by about 2% overall, the Fed estimated, and will be open for a 45-day comment period.

If Capitol Hill plans another round of stimulus, Democrats could have more leverage to demand steps such as suspending overdraft fees or placing a temporary cap on consumer lending rates.

Japanese digital wallet provider Kyash has raised $45 million in a fundraiser to expand its mobile offerings to help Japan convert to a cashless society during the coronavirus outbreak.

The company once again lowered its outlook for quarterly revenue growth, saying the coronavirus pandemic has led to a sharp decline in cardholders’ overseas spending.

Some corporations are willing to oblige, turning instead to new, pricier term loans or revolving credit lines rather than tapping existing ones, industry officials say.

The acquirer had pursued a de novo strategy in its home state but was unable to raise enough capital.

New Vision 3, a Bulgarian venture capital firm backed in part by European Union grants to encourage SMB innovation, has announced it's dividing a $2.7 million investment among three Bulgarian fintech firms.

An uptick in closings is likely, but how many institutions go under and how fast will depend on a variety of factors, including the duration of the pandemic.

NAFCU and CUNA wrote to the regulator asking for a variety of measures to help credit unions weather the pandemic, including not implementing the CECL standard until at least 2024.

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.

A former market president for State Bank Financial would serve as CEO of the proposed Classic City Bank.

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

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.”

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.

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

Bankers will be pressed on upcoming earnings calls to forecast how the coronavirus pandemic — and the government's response — will shape credit quality, margins and fee income.

Margins will be squeezed after the Federal Reserve lowered interest rates earlier this month to counteract the economic fallout from the coronavirus.