Organization Root Tag

Credit unions are once again opposing language in draft legislation of the 2021 National Defense Authorization Act that would allow banks to rent space on military bases for free.

Even in the face of a threat as substantial as coronavirus, cash is not apt to ever fully go away.

Payments processors are keeping a portion of payments as a reserve against potential disputes between cardholders and merchants. Small-business owners say the practice is eating into their profits.

Lawmakers should go further than their recent criticism of the Financial Accounting Standards Board's loan-loss rule and just hand over its duties to the Securities and Exchange Commission.

Financials drop 8.2% on prediction of low rates through 2022 and dim economic outlook; the largest mortgage originator and a top challenger to traditional lenders has filed what may end up being the year's largest initial public offering.

The industry was well positioned in terms of net worth before the pandemic and recession, but some institutions could run into issues with sluggish earnings and a surge in deposits.

Electronic payments are spiking during the coronavirus, but access to different automated versions is needed, says Qualpay's Penny Townsend.

Mobile banking use has swelled since the pandemic hit, and law enforcement officials expect hackers to target the credentials of digital novices. The FBI stressed the importance of two-factor authentication and ensuring consumers know how to spot fake apps that carry malware.

The lawmakers are attempting to block the regulation reforming the anti-redlining law under review powers granted to Congress, but the move is largely symbolic with the Senate and White House controlled by the GOP.

The regulator cited "unsafe and unsound practices" at the Georgia-based institution, which is the first credit union to be conserved this year.

The maker of accounting and invoicing software is, with the help of a community bank, the latest fintech to cater to small-business owners.

A budget item establishing a new agency to protect consumers from predatory lenders has been put on hold as state officials deal with the coronavirus response and other priorities. But it could be revived in legislative talks later this summer.

After three months of supervising national banks remotely, examiners will soon resume visiting them in person and working in regional offices, says acting Comptroller of the Currency Brian Brooks.

Lenders are cautioning not only that second-quarter provisions might exceed the spike seen earlier this year, but also that credit costs could be elevated into 2021 if the economic slowdown drags on or fears of a second coronavirus wave are borne out.

The acting head of the agency says it cannot continue relying on web-based exams put in place during the coronavirus and will start sending staff into banks.

The company is partnering with Sensibill, a fintech whose technology turns photos of receipts into text and helps people track and manage their expenses.

The coronavirus dealt a double blow to procurement, cutting off both goods and money. Banks and e-commerce firms are relying on partnerships to tweak payment tools to rescue the market.

The Federal Housing Administration's move to insure loans with forbearance could help support homeownership opportunities constrained by the coronavirus if one change was made to it, trade groups said.

Groups representing community banks and credit unions generally support the new percentage-based goals set by the Federal Housing Finance Agency.

The central bank is only now nearing the launch of the credit facilities after the effort was announced in April. But Chairman Jerome Powell said loans have been available through other means.