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Coronavirus stimulus package: What do banks need to know?

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The $2 trillion deal passed by the Senate late Wednesday would aim to put banks and consumers alike on stronger financial footing as they weather the coronavirus pandemic.

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Bank tech vendor Finastra hit with ransomware attack

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The attack knocked out core and mobile banking systems at several U.S. banks, and Finastra is working to get them up and running.

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Big banks offer relief to California homeowners affected by COVID-19

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JPMorgan Chase, Wells Fargo, Citigroup and U.S. Bancorp, along with 200 state-chartered banks and credit unions, have agreed to let borrowers skip payments for 90 days if their finances have been upended by the pandemic.

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Banks supplement benefits to help employees affected by coronavirus

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From paying $1,000 bonuses to branch employees to subsidizing child care expenses, banks are offering a slew of new perks for front-line employees still working and more paid leave for those who are ill or caring for sick family members.

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April wave of missed payments could upend mortgage servicers

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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.

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Will coronavirus lead to a wave of bank failures?

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An uptick in closings is likely, but how many institutions go under and how fast will depend on a variety of factors, including the duration of the pandemic.

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Banks get break they needed on loan workouts

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Regulators' decision to delay reporting for troubled-debt restructurings should allow banks and credit unions to be more nimble modifying loans impaired by the coronavirus outbreak.

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Bank CIOs confront challenge of so many employees working at home

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As companies move work off-site because of the pandemic, a host of issues have arisen around remote access, network monitoring and cybersecurity.

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Emergency coronavirus program gives fintechs a shot at SBA lending

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No online lenders are approved for the agency's traditional programs, but they could make loans under the COVID-19 stimulus package if they get special approval.

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Dems' bid to pause negative credit reporting gets pushback from industry

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Congressional Democrats want forceful action to prevent damage to millions of Americans' credit scores during the COVID-19 pandemic. But the credit bureaus argue that the tools needed to protect consumers are already in place.

(Full story here.)

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Crisis Management Coronavirus
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