Organization Root Tag

The path away from cash and plastic was well underway before the pandemic, and will deeping during the crisis and beyond, says Paysafe's Daniel Kornitzer.

Some megabanks are pushing New York lawmakers to add a legal safe harbor if lenders use the new Secured Overnight Financing Rate. Smaller banks would have little choice but to take that option.

The shortage of personal protective equipment (PPE) for medical workers is one of the most troublesome elements of the coronavirus outbreak, though prior work to declutter cross-border supply chain payments provides some hope.

Many banks are slashing their spending. Others are changing their messaging strategies. And those banks that partner with pro sports teams are stuck in limbo, since it remains unclear when games will resume.

Small businesses that received loans from the Paycheck Protection Program pandemic still don’t know how much they may have to repay after the government missed a deadline to give specific guidance.

The deal was expected to close this summer, but First BanCorp said a regulatory review is hitting snags.

The joint statement on the risks of cloud computing summarizes years of guidance and rules as industry reliance on third-party platforms has become more ubiquitous.

Credit inquiries for auto lending, revolving credit cards and mortgages fell sharply in March as unemployment surged, according to a Consumer Financial Protection Bureau report.

There were few fireworks at Wells Fargo’s first annual meeting under new CEO Charlie Scharf; billionaire investor and entrepreneur Mark Cuban pitches Fed-backed overdraft protection; as hotels sit empty, loan delinquencies pile up; and more from this week’s most-read stories.

Federal regulators are now conducting nearly all supervision off-site as a result of the pandemic. The temporary measures are stoking a debate about whether they should be permanent.

These tech-obsessed consumers still crave human interaction. Banks' challenge: Designing products and services that meet their needs.

Organizers of Rockpoint Bank still need to raise $30 million before opening.

The Home Loan bank will make zero-interest loans, match charitable donations that members make to nonprofits and small businesses, and provide additional funding for economic development grants.

Regulators need to revamp their proposal to overhaul the Community Reinvestment Act now that the coronavirus outbreak has created unforeseen financial needs.

More companies will be eligible to apply for the four-year loans, including those with high debt loads; four-year loans will be offered to European banks with rates as low as minus 1% as the eurozone economy tanks.

The Justice Department has begun a preliminary inquiry into how taxpayer money was lent out under the Paycheck Protection Program and has already found possible fraud among businesses seeking relief, a top official said.

Visa pulled its financial outlook for the rest of the year, but it already has visibility into permanent changes that result from the coronavirus — such as an aversion to handling cash.

Wells Fargo will temporarily stop accepting applications for home equity lines of credit, following a similar move by rival JPMorgan Chase.

In round two of the Paycheck Protection Program, the bank has sent some 256,000 loan applications to the Small Business Administration for processing.

Consumer groups are poised to take the bureau to court over its gutting of underwriting requirements, while House Democratic leaders could attempt a repeal through the Congressional Review Act.