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Spirit of Texas Bancshares named an interim CEO for Dean Bass, though the company said he is recovering.

The coronavirus has accelerated a move toward a public option for digital wallets that would tie government authentication to payment transactions. If successful, this could be the catalyst for a national digital identity system.

The “hold” period has shrunk considerably, from 10 business days to typically now three, one or zero, making it harder to spot suspicious activity, says FICO's Liz Lasher.

OakNorth helps banks analyze credit, identify pandemic-related risks and forecast borrower issues before they turn into defaults.

Measures that delay the Current Expected Credit Losses standard and reduce a community bank capital ratio are temporary, but the industry now sees an opening to argue that they should be permanent.

Firms that spread big-dollar deposits to community banks have seen a rush in demand as small businesses seek emergency loans to weather the coronavirus pandemic.

The Small Business Administration said lenders approved $71 billion in loans from the Paycheck Protection Program in less than five days.

Simmons Bank in Arkansas is dealing with extra traffic on its digital channels and added call volume while communicating with customers through email, push notifications and even snail mail as well as its new app, says Alex Carriles.

The Fairfax, Va.-based credit union agreed to pay $2.7 million in the class action case, though it did not admit any wrongdoing.

The online lender, which is looking to become a direct lender in the Paycheck Protection Program, has accepted 37,000 applications while working with an unnamed bank to fund businesses harmed by the coronavirus pandemic.