Retail & Commercial

The success of Isbank's Maxi service is a lesson for all banks: Chatbots, with the right training, can provide the kind of human touch customers need in times like these.

The industry was well positioned in terms of net worth before the pandemic and recession, but some institutions could run into issues with sluggish earnings and a surge in deposits.

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.

The Oregon company tapped Tory Nixon to serve as president of its bank.

A budget item establishing a new agency to protect consumers from predatory lenders has been put on hold as state officials deal with the coronavirus response and other priorities. But it could be revived in legislative talks later this summer.

In the wake of the pandemic, Americans are taking on more debt to cover expenses. That could signal an opportunity for growth in some unsecured lending products.

Lenders are cautioning not only that second-quarter provisions might exceed the spike seen earlier this year, but also that credit costs could be elevated into 2021 if the economic slowdown drags on or fears of a second coronavirus wave are borne out.

The company is partnering with Sensibill, a fintech whose technology turns photos of receipts into text and helps people track and manage their expenses.

As revenue-starved retailers fall further behind on rent payments, landlords' cash flow will be strained, and defaults on commercial real estate loans could rise.

The Federal Housing Administration's move to insure loans with forbearance could help support homeownership opportunities constrained by the coronavirus if one change was made to it, trade groups said.