Organization Root Tag

The lender’s offices in the U.S., Canada and the U.K. will remain shut to all nonessential staff at least through the Labor Day holiday on Sept. 7, CEO Richard Fairbank wrote in an internal memo.

The agencies issued a rule to better enable banks to participate in two of the Federal Reserve’s lending facilities and “support the flow of credit to households and businesses.”

As special IG for the Treasury’s allocation of $500 billion in aid, Brian Miller could look into funding for Fed credit facilities. But Democrats on the Senate Banking Committee questioned his independence.

A surge in demand for home loans drove the increase, but the second quarter could see a slowdown in borrowing and more delinquencies as consumers contend with the economic fallout of the coronavirus pandemic.

The Conference of State Bank Supervisors says parts of the plan are an overreach, while the agency should think twice about developing the proposal during the coronavirus pandemic.

Bankers are bracing for accusations of discrimination in the way Paycheck Protection Program loans were allocated.

American Express will delay the EMV fraud liability shift due to complications from the coronavirus, following reports that Visa has made a similar concession.

A letter from Todd Harper, a member of the National Credit Union Administration board, called on lawmakers to make a variety of legislative changes to help credit unions and consumers weather the pandemic.

The strength of the post-coronavirus recovery will determine if that's enough for the digitally focused challenger to battle well-capitalized banks.

Banks tend to pull back in times of crisis by tightening credit and focusing on collections efforts. But consumers, and not returns, must be the focus during the coronavirus pandemic.

Discover Financial Services said Thomas Maheras will serve as its chairman after the death of Lawrence Weinbach.

The central bank’s programs announced since mid-April in response to the coronavirus outbreak match if not exceed the actions it took during the 2007-9 financial crisis.

Banking regulators restored the scandal-plagued bank's score three years after assigning it the lowest possible rating under the Community Reinvestment Act.

Payday Loan LLC, which engages in lending and check cashing in 22 stores in California, sued the SBA on April 25 after its request for a $644,000 loan from the Paycheck Protection Program was denied.

Mortgage lenders have imposed steep pricing adjustments for cash-out refinancing as more borrowers seek forbearance.

Lenders implemented stricter underwriting across all loan types in the first quarter as the pandemic upended the economy, the Federal Reserve said in its survey of loan officers.

The Fed has tweaked its Main Street Lending Program to stir more enthusiasm, including the creation of a third financing option for larger companies. Will it make a difference?

Mastercard has promoted divisional president Mark Barnett as its new European president to succeed Javier Perez, who is retiring at the end of the year.

Visa’s the first card company to push back the October deadline for U.S. gas station EMV compliance, but that’s just one of a mounting set of challenges petroleum merchants are facing because of the coronavirus.

Industry groups have called for a variety of measures to help CUs weather the pandemic’s economic fallout, including more money for funds that aid community development financial institutions.