Merchant

The HEROES Act aims to clarify whether economic stimulus checks from the government can be used for debt collection, but it's unclear if that language will survive the legislative process.

Fraudsters are licking their chops at the prospect of businesses and financial services extending remote working because of the coronavirus pandemic.

Customers normally receive debit and credit cards inside a branch. Now banks are shifting the process to their drive-throughs and finding alternative ways for cardholders to key in their PINs.

A Manhattan man was charged by federal prosecutors with fraudulently trying to obtain more than $20 million in government loans intended to aid small businesses affected by the coronavirus pandemic.

Unlike past economic recessions where businesses and consumers have had to adjust their payment habits and debt levels over the course of months or quarters as the economy shrank, the coronavirus-induced economic crisis has forced many to make much more abrupt financial adjustments.

The Federal Reserve received a bipartisan critique Wednesday from members of a congressional oversight panel who said the central bank has been slow to launch a key emergency lending program for midsize companies.

Jennifer Roberts, the company's head of business banking, details a process to have units work one-on-one with customers to get Paycheck Protection Program funds deployed faster.

The Miramar, Fla.-based institution is spending $85,000 to help businesses as the economy begins reopening.

The Ohio company said the decision reflects branch overlap and lower customer usage of the locations being shuttered.

The sellers will continue to service the loans and retain the fees they receive from the Small Business Administration.