The chiefs of some of the biggest U.S. banks called on their workers to fight racism after an unarmed black man died as a result of a white police officer kneeling on his neck, prompting nationwide protests.

The SBA issues guidance on Paycheck Protection Program loan forgiveness; after staffing up for PPP, Bank of America may need to delay investments to meet cost targets; American Express has leaned hard on cloud tech to help employees work at home during the pandemic.

Expenses soared in the rush to deploy emergency loans to small businesses, and now Bank of America may need to delay some investments if it hopes to meet cost targets, CEO Brian Moynihan said.

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.

Bank of America is set to price today a $1 billion bond issue to fund COVID-19 relief efforts. It's the first sale from a U.S. financial institution that explicitly links all proceeds to tackling the virus, Bloomberg data show.

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

Submissions total about $17.8 billion in requested funding for the second round of the Paycheck Protection Program, with an average loan size of $81,000.

Bank of America and U.S. Bancorp were also named in a lawsuit filed in Sunday in which the banks are accused of prioritizing large loans distributed through the Paycheck Protection Program in order to maximize fees.

Some states aren't waiting on the Federal Reserve to help with the historic hits to their budgets. Instead, they're working with a lender that they have a much longer history with: Bank of America.

Quick forbearance actions averted an immediate hit to asset quality, but executives warned that a spike in unemployment and a looming recession will cause long-term problems.

The biggest lenders seem to have handled the corporate rush for cash heading into the economic shutdown caused by the coronavirus pandemic. But their ability to collect is as uncertain as the economic outlook for the next year.

The two U.S. banks set aside a combined $10 billion for future loan losses, which may not even be enough; a proxy firm says the Swiss bank did not adequately punish former executives for spying scandal.

With the coronavirus pandemic bringing economic activity to a virtual standstill, BofA, like Wells Fargo and JPMorgan Chase, is shoring up its reserves to brace for a likely recession.

Bank of America, which came under fire for prioritizing applications from existing small-business customers, asked a federal judge in Baltimore to reject a request in a lawsuit to temporarily bar it from employing the practice.

Banks, under pressure to act hastily, began taking applications for government aid to small businesses hit hard by the coronavirus outbreak. But narrow eligibility rules at some banks angered business owners and lawmakers.

The decision sparked outrage from small-business owners who have checking accounts with the bank but not loans or business credit cards. Bank of America started taking applications Friday for a $349 billion program that's intended to offer aid to small businesses suffering from the shocks of the coronavirus pandemic.

The worsening economy brought on by the coronavirus pandemic has big banks rethinking who they will lend to.

Bank of America said it has agreed to allow 50,000 mortgage customers to defer payments for three months because they've lost income as a result of the pandemic.

CEO Brian Moynihan also said in an interview that the bank is helping clients affected by the coronavirus pandemic through increased commercial lending to companies and expanded forbearance for Main Street customers.

JPMorgan Chase, Wells Fargo, Citigroup and U.S. Bancorp, along with 200 state-chartered banks and credit unions, have agreed to let borrowers skip payments for 90 days if their finances have been upended by the pandemic.