Merchant

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.

As many countries and U.S. states now begin to lift stay-at-home orders, fraudsters too are being unleashed to return to familiar targets such as bank branches, ATMs and retail stores.

As consumers dump cash and traditional point of sale hardware for contactless payments, PayPal has added support for QR codes in 28 countries.

Black and Latino business owners were less likely to get loans than overall borrowers, survey states; Atlanta Fed president tells lenders they won’t be second-guessed if they do right by borrowers.

The government's latest stimulus package cleared the House on Friday but a number of key credit union priorities didn't make the cut.