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John Dugan says a successful effort by banks to alleviate the economic damage of the pandemic could boost the industry's reputation.

The challenges may seem daunting, financial institutions and fintechs must focus on identifying meaningful opportunities based on the financial priorities of consumers and businesses to help them weather these difficult times.

Recent steps that would help nonbank lenders enter the traditional banking system, like a proposal clarifying the industrial loan company charter, are needed but face strong opposition.

New York State regulators may bring an enforcement action against the German bank as early as this month; Wells Fargo’s decision to stop making loans to the dealers has more to do with credit quality than asset limits.

Financial institutions are trying to determine how to best protect branches as some demonstrations following George Floyd's death turn violent.

Automation and technology allow lenders to handle an evolving situation that changes by the day: adjustments are easily made to terms, timing and required data for loan forgiveness, says PayNet’s William Phelan.

Tyrie has advanced Bank of America’s virtual assistant Erica and rolled out easier-to-use digital products that resonate strongly with customers. Those achievements have earned him recognition as one of American Banker’s digital bankers of the year.

The consumer bureau said Approved Cash Advance improperly collected amounts that were five times higher the legitimate fee schedule disclosed to borrowers.

Members of both parties raised concerns that the requirements for participating in the Municipal Liquidity Facility and Main Street Lending Program are too restrictive to benefit smaller localities and certain midsize firms.

Rodney Hood, the first African American to lead a banking agency, said in a deeply personal statement that he was "familiar with the anger and frustration that comes with the everyday challenges and realities surrounding race."

As small businesses' cash flow tightens during the pandemic, Alibaba Group is enabling SMBs to postpone payments for 60 days on cross-border e-commerce purchases.

American Express has added 26 Caribbean nations to the list of countries where it’s raised the ceiling on contactless transactions that may be conducted without PINs, to reduce consumers’ exposure to touching PIN pads.

The new product, which comes as an earlier partnership with the online lender Kabbage is sputtering, figures to appeal to companies with tight cash flows.

An interagency notice meant to encourage lenders to offer small consumer loans also provides federal agencies too much say on what constitutes “reasonable” pricing.

The funds will be used to support housing, job training and aid for small businesses in communities that have been disproportionately affected by the pandemic.

The Georgia company said the agency is looking at its policies for paying, or withholding, Paycheck Protection Program fees to borrowers' agents.

Brian Brooks says coronavirus mandates, such as masks, could potentially harm banks; some recipients of the Treasury prepaid cards don’t believe they are for real.

Digital fraud protection provider Kount will be offering real-time fraud screening using adaptive artificial intelligence and machine learning to help Barclaycard’s business clients prepare for Strong Customer Authentication (SCA) requirements, which are part of Europe’s PSD2 directive.

With no way of knowing just how many borrowers will need the mods after the coronavirus forbearance period ends, lenders are deploying artificial intelligence and servicing protocols to tame the ferocious piles of paperwork awaiting them.

The rescue bill enabled banks to protect loans in forbearance from an immediate hit to a borrower’s credit report, but experts say affected consumers may have trouble getting loans after the pandemic ends.