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Founder Brett King will now focus on the enterprise software side of the business, which provides mobile banking software to traditional banks.

In contrast, grocery stores and pharmacies saw a jump in spending during the coronavrius outbreak, according to credit union member data examined by the CUSO.

The $2 trillion stimulus package, which the House passed earlier in the day, aims to expand Federal Reserve liquidity resources and provide financial institutions with some regulatory relief.

The coronavirus pandemic has forced foreign exchange money agent Travelex to close all of its U.K. offices for the next eight weeks.

The U.S. government will shortly funnel trillions of dollars into the economy to soften the coronavirus’ impact on a variety of industries and small businesses. Payment companies that are also lenders will soon find out if it’s enough to save the market.

Regulators are allowing banks that implemented the loan-loss standard to forestall any capital hits until 2022.

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

Digital payment firms and fintechs are nimble and responsive, but that also creates web supply chain attack risk, says Jscrambler's Rui Ribeiro.

The Somerville, Mass.-based credit union appointed its VP of lending to serve as temporary CEO following the departure of its longtime leader for another institution.

Credit unions serving university communities got an early taste of life during the pandemic when classes moved online and campuses cleared out.