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The economic contraction caused by the coronavirus pandemic has been worse than the Wall Street firm had modeled two months ago, its president John Waldron said Wednesday.

American Express began adopting cloud computing a couple of years ago and has leaned hard on the technology to help front-line and corporate employees work at home during the coronavirus crisis, its global head of infrastructure says.

Many companies are postponing product rollouts until the economy improves, but the Samsung Money debit card could be better suited for spending habits during the coronavirus pandemic.

Mobile and contactless payments have generated more consumer attention as ways to safely move money during the coronavirus pandemic, but there's also a growing wave of support for The Clearing House's Real Time Payments network for banks.

The National Credit Union Administration has filed a brief in opposition to the American Bankers Association's request that the court consider its challenge of the agency's field-of-membership rule.

Royal Bank of Canada and Bank of Montreal joined their Canadian peers in setting aside record provisions for loan losses as they brace for the economic fallout from the coronavirus pandemic.

The JPMorgan CEO says the recovery has to start first, and future buybacks won’t be as big as before; Texas Capital Bancshares and Independent Bank blame the coronanvirus market impact.

Forecasts about the pandemic's impact on the mortgage market have grown less dire after forbearance requests by homeowners nearly leveled off in the first half of May.

JPMorgan Chase's CEO expects the economy to rebound in the third quarter thanks to government stimulus programs and the strength of the consumer going into the pandemic.

The new legislation directs the Treasury Department to protect electronic payments that Americans receive through the pandemic rescue package.

Facebook Inc. has renamed its blockchain division, called Calibra, to distance it from the Libra digital currency that Facebook created. The blockchain team is building a digital wallet for Facebook’s apps, which will eventually hold the Libra digital currency, but Facebook won’t control the coin.

Despite record low mortgage rates, borrowers are having trouble getting loans from wary lenders; the underperforming American unit may be ditched in U.K. bank restructuring.

Companies like Amazon, Apple, PayPal Netflix, Uber and others have made it so easy to transact that consumers are left wondering why their bank or credit union cannot provide them with the same kind of seamless and tailored experiences, says Payrailz's Mickey Goldwasser.

The coronavirus lockdown could provide the opportunity for parent-controlled payment cards or mobile apps for children to gain traction after a wobbly past in terms of consumer adoption.

Some observers wonder if proposed regulatory targets for Fannie Mae and Freddie Mac will stoke concerns about low shareholder returns. But others suggest those fears are unfounded.

Demand has soared for mental health services as bank employees put in long hours, supervise kids while working at home and endure personal crises. Citi, BofA, Fifth Third and others are getting creative to help them decompress during the pandemic.

Federal Reserve Bank of Boston President Eric Rosengren said he expects companies to begin receiving money through the central bank's long-awaited Main Street Lending Program within two weeks.

The new legislation directs the Treasury Department to protect electronic payments that Americans receive through the pandemic rescue package.

The new Paycheck Protection Program rules, which created a review process and timeline for paying lenders, did not extend the time borrowers have to comply or increase how much money can be spent nonpayroll expenses.

Venture capital and technology marketing veteran Allison Johnson has departed PayPal, where she was chief marketing officer for the past 16 months.