Retail & Commercial

Congress authorized the Federal Deposit Insurance Corp. to intervene if the pandemic caused a liquidity scare, but nearly two months later deposits are through the roof and the agency has not acted on the expanded authority.

The agency's announcement came one day after the agency said it would provide borrowers struggling to stay current with an additional payment deferral option.

H&R Block intends to break off the relationship since the parties have been unable to restructure compensation to reflect new interchange fee caps at Axos.

A properly deployed combination of asset-based lending, commercial loans and investment banking is imperative in these circumstances.

Often overlooked in narratives about essential workers, branch and call-center employees are responding to challenges posed by the COVID-19 crisis. They’ve processed emergency-relief loans late into the night, coached customers unfamiliar with mobile banking and made house calls to elderly account holders.

With the pandemic's economic toll leading to elevated billing error notices, the consumer bureau said card companies will not be cited if they fail to meet the typical time frame for resolving disputes.

The Independent Community Bankers of America would not rule out legal action if Congress doesn't address the National Credit Union Administration's recent decision expanding the low-income designation.

More write-downs seem inevitable as the coronavirus outbreak wreaks havoc on the economy and bank stocks.

Critics of the Community Reinvestment Act revamp want to freeze the rulemaking process. That would only delay financial help to New York and other hard-hit cities.

The move is the first time the bank has provided services to digital currency players; the Washington Post and four other heavy hitters want details on PPP and small business disaster loan programs.