Organization Root Tag

Members of the Banking Committee pressed the Treasury secretary and Fed chief to ensure CARES Act funds are deployed as Congress intended. They also debated the need for more stimulus to ease the economic effects of the coronavirus.

The regulator has formed the Culture, Diversity and Inclusion Council, which will conduct a survey of NCUA's culture to identify areas that need improvement.

As consumers dump cash and traditional point of sale hardware for contactless payments, PayPal has added support for QR codes in 28 countries.

The Federal Housing Finance Agency clarified that borrowers with Fannie Mae- or Freddie Mac-backed mortgages who have entered into forbearance plans can be eligible for a refi or new purchase once they are considered “current” on their mortgage.

Sen. Elizabeth Warren is calling on the Federal Reserve to hold corporate executives personally liable if they take bailout money intended to bolster credit markets and fail to meet all the certification requirements.

The JPMorgan Chase CEO said he hopes policymakers use the COVID-19 crisis as a catalyst to rebuild a more inclusive economy as the pandemic exposes stark inequalities among Americans.

The company, formed by the merger of BB&T and SunTrust, shared the information in response to a credit union's legal challenge to its new name.

Black and Latino business owners were less likely to get loans than overall borrowers, survey states; Atlanta Fed president tells lenders they won’t be second-guessed if they do right by borrowers.

In response to Truliant Federal Credit Union's request for an injunction, the bank said it has already spent $125 million on the Truist branding, and changing that name would add further costs and damage the bank's reputation.

The $43 billion deal was one of a series of payment mergers in 2019 that were designed to combine bank technology and merchant acquiring across multiple markets and industries while warding off ascendant fintechs offering fast access to digital payments and working capital.

The agency has freed companies from reporting requirements and provided flexibility on exams to help them deal with COVID-19 fallout. It has also finished other regulatory relief efforts that were in the pipeline before the pandemic hit.

With rates so low — after steep emergency Federal Reserve cuts in response to the pandemic’s fallout — banks will struggle to generate bread-and-butter interest income and asset-sensitive lenders will face substantial net interest margin contraction this year and next, analysts say.

The order's removal allows the Delaware company to pursue more opportunities in its payments business.

In line with the other major card brands, Mastercard is extending its EMV liability shift at gas pumps to April 2021. It is also launching a data-driven fraud protection tool for fuel merchants who have not completed their upgrade to chip-card EMV pumps.

The two mortgage giants said they would begin the process of hiring outside firms to help raise capital that will be needed to exit conservatorship.

Saul Van Beurden's team is tasked with keeping systems running during the pandemic, including driving equipment to homebound workers. Yet the bank must continue making upgrades demanded by regulators, investing in new technology and recruiting top talent, he says.

Kent Hiteshew, who was recently hired by the Fed to help with the municipal market, said the Municipal Liquidity Facility opened Monday.

American Express Chief Executive Steve Squeri said a majority of the company’s employees will work remotely through 2020 as it seeks to slow the spread of the coronavirus.

The government's latest stimulus package cleared the House on Friday but a number of key credit union priorities didn't make the cut.

A small Texas company that profits from loan applications is using a web address so similar to the Trump administration's portal for small businesses that even Treasury Secretary Steven Mnuchin pitched the wrong one when outlining a pandemic-aid program.