Data Sets

Fallout from the coronavirus pandemic consumed the industry this year, but other events, including a scandal at the National Credit Union Administration and a credit union under fire for lack of board diversity, also made waves.

The year 2020 was disruptive and chaotic. And while it derailed or delayed some companies' plans for growth, it also created opportunities for new combinations — or, at the very least, didn't slow them down.

For better or worse, financial firms are often cast as villains, but in this year marked by pandemic, economic hardship and protests over racial injustice, they have often been a force for good. Here are 11 stories (and one gallery) of how banks, fintechs and others in the industry stepped up in 2020 to address inequality and help employees, customers and communities in need.

A look back at a year in which little went according to plan for credit unions.

In 2020, the news in Washington was dominated by the regulatory impact of COVID-19 and presidential politics. There was also a new rule changing how national banks will be examined under the Community Reinvestment Act, and the 10th anniversary of Dodd-Frank. Here is a look back at stories from the past year.

While there has been a general trend of paying people faster for work already performed, starting with gig workers, COVID-19 has created (or exposed) many issues that are fueling the shift toward on-demand pay, especially for hourly workers.

Many companies had to pivot sharply in just a month or two. Others were rewarded richly for their earlier investments in digital technology.

When Mastercard and Visa cut ties with Pornhub in December, it was abrupt but unsurprising. The banking and payments industries have had a long and conflicted history with adult content.

A new report from the National Credit Union Administration showed institutions in many states are struggling with a deluge of deposits while their lending opportunities are drying up.

What President-elect Biden’s pledge to forgive student loans means for consumer lenders; Huntington agrees to buy TCF Financial for $6 billion; banks play catch-up as customer shift to digital accelerates; and more from this week’s most-read stories.

When Mastercard and Visa cut ties with Pornhub in December, it was abrupt but unsurprising. The banking and payments industries have had a long and conflicted history with adult content.

Demand for food delivery has been strong during the pandemic, building on what already had been a strong demand for the $27 billion industry, according to NPD Group.

Program that lets firms bundle Small Business Administration loans on hold; BofA’s Brian Moynihan urges Congress to act on second federal stimulus; end date for the Paycheck Protection Program Loan Facility extended to March 31; and more from this week’s most-read stories.

Credit quality has remained strong at credit unions, but there are hints that some of them — especially the smallest ones — could report lackluster earnings well into next year, according to the National Credit Union Administration's latest intel on industrywide finances.

What PNC has in mind for BBVA's technology; banks and borrowers bristle at SBA questionnaire on large PPP loans; a look at who might be buying if HSBC decides to sell its branches; and more from this week's most-read stories.

There’s no escaping fraud during one of the merriest months of the year as cyber thieves are busy trying to make their own wishes come true.

Here are 10 more storylines that defined banking in 2020.

From the industry's extraordinary response to the coronavirus outbreak to Citigroup promoting Jane Fraser to CEO, these are some of the storylines that defined banking in 2020. First in a two-part series.

Improvements have been made in reducing the number of unbanked households over the past few years, but progress hasn't been even across different communities. There are also new obstacles coming to light, as COVID-19 drives more banks and consumers to digital channels to acquire and service new financial products.

The annual survey from the National Credit Union Administration shows credit unions making gains in some of their inclusion efforts, but the industry still has much it can do to improve.