Organization Root Tag

Utah bank is expected to launch next year; banks want to hold off regulations that would hamper efforts to keep money flowing during virus crisis.

COVID-19 is bringing business to PayPal, Blend, Symphony and others as homebound consumers and commercial clients seek more electronic services. But demand could cool if the economy slows further.

The processes and standards in place to ensure our payment cards are robust, secure and work in harmony with the rest of the ecosystem are given little spotlight, but they’re invaluable to the payments world’s smooth operation, says Fingerprints' Lina Andolf-Orup.

In signing off on deposit insurance for the payments giant and student loan servicer, the FDIC sanctioned the first new industrial loan companies in over a decade.

The biggest bank in the U.S. will temporarily close 20% of its branches, following recommendations by health experts. It said it would also operate its remaining branches at reduced hours.

FHFA Director Mark Calabria said the health crisis will complicate the release of a proposal establishing new capital requirements for Fannie Mae and Freddie Mac.

COVID-19 is bringing business to PayPal, Blend, Symphony and others as homebound consumers and commercial clients seek more electronic services. But demand could cool if the economy slows further.

The temporary foreclosure moratorium on loans backed by HUD, Fannie Mae and Freddie Mac comes after lawmakers and housing advocates had pushed for steps to avoid consumers getting booted from their homes.

Payments technology provider Fiserv is acquiring independent software vendor Bypass Mobile to boost its multi-channel capabilities for sports, entertainment and restaurant verticals.

Loans with favorable terms and gift certificates are among the solutions being promoted by companies like Kabbage and Honeycomb Credit.

Big data graph analytics allow you to “drill down” into complex interrelationships among organizations, people and transactions, says TigerGraph's Todd Blaschka.

Dozens of firms in industries most immediately hit by the virus and oil-price war — such as leisure, transportation, health care, energy and mining — have been drawing billions of dollars from existing credit lines.

Online platforms and apps can be utilized to quickly support small businesses and consumers facing unexpected financial hardship.

The central bank made two more moves to keep credit flowing; the Housing Policy Council plan would halt mortgage payments during the COVID-19 crisis.

Heritage financial institutions that don’t support emerging embedded payments and banking risk further erosion of younger cohorts and losing material franchise value to fintechs, challenger or neo-banks equipped to originate and service accounts at the edge of partner networks, say payment consultants Richard Crone and Heidi Liebenguth.

The pandemic has upended staffing plans, sparked concerns about servicers’ capacity to handle the expected crush of missed payments, and even raised questions about their ability to stay afloat.

On the same day the Federal Deposit Insurance Corp. said it will soon rule on two applications, the agency also proposed benchmarks for all firms that want to own industrial loan companies.

The establishment of the Primary Dealer Credit Facility is among a flurry of recent actions by the central bank to limit the economic impact of the coronavirus.

The Federal Reserve's support for the commercial paper market made clear that it was willing to go beyond cutting interest rates, but the central bank may feel pressure to do even more as the crisis worsens.

Regulators issued a rule that gives banks the OK to dip into capital to help households and businesses cope with the economic impact of the coronavirus.