Merchant

In letters to administration officials and large banks, the lawmakers sought details about loan recipients following reports that financial institutions had favored their wealthiest clients.

United Airlines Holdings Inc. is planning to raise $5 billion by borrowing against its frequent-flyer program, stepping up efforts to boost liquidity amid the Covid-19 pandemic.

The central bank also asked for public feedback on a proposal to extend support for coronavirus relief loans to nonprofit organizations that were in sound financial condition before the onset of the COVID-19 pandemic.

Even though some organizations are now saying they don’t believe cash is a major culprit behind the spread of COVID-19, those taking extra precautions can rest assured they can continue to use contactless payments, while benefiting from the added fraud protection it presents, says FICO's TJ Horan.

Some institutions may want to consider self-insurance to lower expenses as the coronavirus cuts into earnings.

Mobile banking use has swelled since the pandemic hit, and law enforcement officials expect hackers to target the credentials of digital novices. The FBI stressed the importance of two-factor authentication and ensuring consumers know how to spot fake apps that carry malware.

For Starbucks, the pandemic’s emergency workarounds are also a proving ground for a retail concept that could change the way people visit quick-serve restaurants.

The lawmakers cited concerns from small businesses that the current application to have coronavirus relief loans forgiven is “especially burdensome, time-consuming, and costly.”

Uwharrie Capital in North Carolina and Valley National in New York used their community connections to seek out small companies in need of loans from the Paycheck Protection Program. They found plenty of them.

Credit unions are once again opposing language in draft legislation of the 2021 National Defense Authorization Act that would allow banks to rent space on military bases for free.