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The central bank will prioritize monitoring and outreach while reducing examination activity due to the coronavirus pandemic until at least the end of April.

It joins a growing list of banks temporarily shuttering branches as the novel coronavirus continues to spread across the country and more Americans stay home. Meanwhile, Citi and rival Wells Fargo became the latest banks to announce plans to pay bonuses to front-line employees.

Citi is beefing up leadership in its consumer card lending operations by recruiting Chase exec Pam Habner — credited with engineering the success of Chase’s Sapphire Reserve card — and former Citi exec Chris Fred, who will return after several months of working at Goldman Sachs on Apple Card products.

The coronavirus stimulus package has resurrected calls for the U.S. government to offer a central bank digital currency, public mobile wallets and postal banking—controversial ideas that are hard to pull off, but exist outside the U.S. and could dent interchange fees and private stablecoin projects like Facebook’s Libra.

The COVID-19 crisis is forcing many banks to hold their spring shareholder meetings online only.

The legislation sponsored by Sen. Sherrod Brown, an Ohio Democrat, would require banks to offer the accounts so that consumers could easily access cornonavirus relief funds without turning to high-cost check cashers.

With economists fearing high unemployment stemming from the pandemic, the housing finance system is grappling with how it will recoup lost revenue from delinquencies, forbearance plans and other tremors.

Financial services personnel were among critical infrastructure groups that the Department of Homeland Security said were crucial for “public health and safety as well as community well-being” during the pandemic.

While financial institutions are encouraging customers to use their digital banking services rather than the branch or ATMs during the outbreak, attackers will also be looking to exploit this potential increased adoption of mobile banking and mobile payment apps, says OneSpan's Sam Bakken.

Financial services personnel were among critical infrastructure groups that the Department of Homeland Security said were crucial for “public health and safety as well as community well-being” during the pandemic.