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Waiting for the SBA to sign off on PPP loan forgiveness; banks criticized for requiring balloon payments on loans in forbearance; how backlash over Scharf remarks affects Wells Fargo’s diversity push; and more from this week’s most-read stories.

Banks' restaurant and hotel clients in many oceanside communities are seeing an uptick in business as travelers opt for short hops over long hauls during the coronavirus crisis. But activity could slow as colder weather approaches.

The Financial Stability Oversight Council said the mortgage giants may need a bigger capital cushion than their regulator has proposed, but stopped short of designating them as “systemically important financial institutions.”

During a Senate Banking Committee hearing, the Massachusetts Democrat asked Powell what the Fed is doing to reduce inequality along economic lines in the U.S.

Russia's largest bank is reinventing itself as a technology company and selling its own consumer electronic devices. Its chief tech officer says the moves are all about developing broader, more enduring customer relationships that the bank controls fully.

Having already changed charters for a statewide field of membership, the Jackson, Mich.-based institution will now merge with Washtenaw Federal Credit Union.

Bostic, the first Black Fed president in the central bank’s 106-year history, said systemic racism is an economic as well as a moral issue.

For invisible payments to gain mass consumer adoption, there are several cultural and logistical barriers that retailers and the payment industry must consider first, says PPRO's Matt Jackson.

As the coronavirus pandemic has driven more people to work from home and shop online, the demands on digital, faster payment systems have been heightened — as have the opportunities for fraudsters to exploit them.

The bank has agreed to pay $158 million for Standard AVB Financial, which has 17 branches in Pennsylvania.