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Lenders have a role to play in the national reconciliation that must follow the recent racial unrest — providing greater access to capital for African Americans and other underserved groups so they can build wealth, activists said at a panel discussion hosted by Berkshire Bank in Boston.

One criticism of the CARES Act is that it provides relief only to borrowers with government-backed loans. Bills in New York and California would cover the remaining 30% of homeowners.

As part of its commitment, the Minneapolis company said it will provide $100 million in capital to African American owned and operated businesses and organizations.

Big banks call for blanket forgiveness of PPP loans under $150,000; Wells Fargo struggling to stay under asset cap amid pandemic, CEO says; banks are getting aggressive — and creative — to boost profits; and more from this week's most-read stories.

Michael Moyes has been appointed to replace retiring chief executive Preston Sanders.

Japanese credit card giant JCB plans to use technology from FIS to enable cross-border QR code payments as digital wallet use rises across Asia.

The challenger bank OakNorth has been peddling its lending platform to U.S. banks for a year. When it saw COVID-19 on the horizon, it retooled to include a ratings system predicting how borrowers will be affected by the pandemic.

Bankers said legislative fixes to the small-business rescue program should help more borrowers secure loan forgiveness, though new demand will likely remain tepid because the process is still extremely cumbersome.

Butte Community Federal Credit Union, which previously served just one county, added five more after getting regulatory approval.

Acting Comptroller of the Currency Brian Brooks had suggested states and municipalities should end "indefinite shutdowns" meant to combat the spread of the coronavirus. The Democratic lawmaker said he was going against the public health recommendations.

An open, extensible platform is crucial to quickly discover and prevent automated attacks, and also to be able to immediately import these findings to their existing security infrastructure for log analysis and reporting, says Cequence Security's Matt Keil.

The Credit Union National Association has been directed to work with the entire industry to find ways to address discrimination experienced by African Americans.

The race to provide coronavirus relief for small businesses is opening new routes to fund payments, including underused credit lines.

Past is not prologue, and a successful strategy for becoming a top-performing bank in 2020 is very different from what it might have been just six months ago.

The employee assisted authorities in currency trading investigations that cost the bank $714 million; Citi is eyeing an expansion of its commercial banking ops in Europe, Middle East and Africa as other lenders exit on coronavirus fears.

Once the payment holiday is over, monthly repayments are likely to be higher, leaving many borrowers struggling to manage their debt.

Credit union executives have led teams through past crises, but the pandemic has created new economic stresses and mental strain that CEOs must address.

As merchants are challenged to adapt their business just to survive, and consumers push for greater control over where and how they spend, the payments industry is in a position to align the various needs, says Splitit's Brad Paterson.

Daily edition for June 05, 2020.

One criticism of the CARES Act is that it provides relief only to borrowers with government-backed loans. Bills in New York and California would cover the remaining 30% of homeowners.