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Canadian consumers are changing their banking habits to reduce physical contact with others because of COVID-19, according to a new study by McKinsey & Co.

Policymakers have eased some rules and the Supreme Court recently dealt a blow to the Consumer Financial Protection Bureau. But as the landmark legislation approaches its 10th anniversary, the post-crisis regulatory regime has stayed largely intact.

The Senate will consider Kyle Hauptman’s nomination to the NCUA board on July 21, while new data from the SBA details credit unions’ participation in the Paycheck Protection Program

The Bank of England is reviewing whether it should create a central bank-backed digital currency, according to governor Andrew Bailey.

G4S Plc has entered talks with workers over a plan to slash jobs at its U.K. cash-handling business as COVID-19 spurs consumers to use other forms of contactless payment.

It is no longer a matter of whether a business should be modifying their infrastructures to support these new in-store and online purchasing behaviors, but when and, most importantly, how quickly, says Fattmerchant CEO Suneera Madhani.

With the COVID-19 health pandemic wreaking havoc on jobs, investments, consumer debt and lending, secured credit cards can address a vital need for people who may not have considered the product in the past.

Regulators can only delay the move to a new interest rate index alternative for so long.

The Federal Reserve's extraordinary effort to keep credit flowing to companies during the COVID-19 pandemic is also shunting money to banks' bottom lines.

A deal to merge Riverset CU into Allegant Community FCU will create the third-largest credit union in western Pennsylvania.

A Bloomberg News analysis shows that the data for Paycheck Protection Program loans totaling more than $521 billion released on July 6 are riddled with anomalies.

Wells is expected to report a loss while other banks report sharp declines in profits; Fed officials wanted easier terms, while Treasury officials preferred a more conservative approach.

For all banks' claims that credit unions pose a threat to their commercial lending market share, they've accounted for just 2% of volume in the Paycheck Protection Program.

Daily edition for July 13, 2020.

Suppliers that still need to receive physical checks should still be able to do so. Even if they do, the process remains electronic on the accounts payable side, says AP side so that customers can issue check payments in the same batch as other electronic payments, says Nvoicepay's Angela Anastasakis.

The most recent legislative push to mandate cash is bipartisan at the outset, but there are divisions over how to put this plan into effect.

The pressure is on for banks to help Black and Hispanic households build net worth. Many say that starts with diversifying the ranks of middle and upper management.

New president of Promontory Interfinancial Network says recession will cause "hundreds" of nonbank disruptors to fail; lenders face dilemma over offering Main Street loans to noncustomers; PNC Financial expands, diversifies executive leadership team; and more from this week’s most-read stories.

For all banks' claims that credit unions pose a threat to their commercial lending market share, they've accounted for just 2% of volume in the Paycheck Protection Program.

However, those who aren't current bank customers need to have $1 million in a qualifying account.