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The coronavirus is hitting small businesses hard, slamming one of Square’s core markets just as the payments company got a long-awaited industrial banking license.

Today’s consumers increasingly live in a world of customization, and their expectations mirror the need for a seamless consumer experience that addresses their personal preferences, says Envestnet/Yodlee's Brandon Rembe.

With the government’s backing and thanks to the unprecedented capital levels they built up since the 2008 financial crisis, banks could provide relief in a way that they never have before.

The COVID-19 pandemic has already given rise to false marketing of test kits and criminals impersonating the FDIC. Consumer advocates say the bureau could issue alerts as well as empower banks to help safeguard their customers’ funds.

Accommodations for borrowers affected by the coronavirus pandemic, such as payment delays and fee waivers, are "positive and proactive actions that can manage or mitigate adverse impacts," the regulators said.

The New York company moved its April shareholder meeting to June because of the pandemic.

Workers living paycheck to paycheck are borrowing from companies like PayActiv, DailyPay and Branch to survive the economic impact of the pandemic.

Banks cutting back on branch services — or closing stores outright — to slow spread of coronavirus; Trump administration to halt foreclosures as pandemic worsens; Wells Fargo hires TD's Ellen Patterson as general counsel; and more from this week's most-read stories.

The annual event is one of the industry's most high-profile sponsorships and is a major fundraiser for Children's Miracle Network Hospitals.

Though Credit Union of Southern California isn't laying off workers, management wanted to help employees who were still financially affected by the coronavirus.