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The novel coronavirus poses not only an unprecedented health crisis, but an unprecedented financial crisis as well. Can we forestall a worst-case scenario?

An uptick in closings is likely, but how many institutions go under and how fast will depend on a variety of factors, including the duration of the pandemic.

From helping hospitals purchase new testing kits and ventilators to backing efforts to develop a COVID-19 vaccine, banks large and small are pledging millions of dollars to assist with medical relief efforts.

Tom Meyer, CEO of 1st Capital since 2015, decided to step down because shelter-in-place orders are keeping him from family hundreds of miles from the bank.

Leveraging AI and machine learning can help credit unions focus on doing what they do best: forging connections with members.

Draw-downs on C&I credit more than quadrupled in a seven-day period ended March 25. Lenders may try to rein them in if the crisis drags out, but legal precedent isn’t on their side.

The joint statement said examiners will not impede banks and credit unions’ responsible efforts to offer open lines of credit, closed-installment loans or other products to borrowers dealing with fallout from the pandemic.

No online lenders are approved for the agency's traditional programs, but they could make loans under the COVID-19 stimulus package if they get special approval.

NAFCU and CUNA wrote to the regulator asking for a variety of measures to help credit unions weather the pandemic, including not implementing the CECL standard until at least 2024.

The regulator's extension for first-quarter documents applies to BHCs with less than $5 billion in assets.

Arizent, the parent company of Credit Union Journal, has conducted a broad industry survey on both the impact of the crisis and emerging responses. The survey probed continuity efforts and remote workforce enablement as well as planning and investments being pursued against future potential disruptions.

Payments technology is a relative bright spot as coronavirus’ economic fears hit venture capital, since an emergency can be a catalyst for early-stage innovation designed to ease digital commerce.

The reprieve from mortgage data collection was among several changes to the agency’s supervisory and enforcement procedures to help firms responding to the COVID-19 pandemic.

A former market president for State Bank Financial would serve as CEO of the proposed Classic City Bank.

Arizent, the parent company of American Banker, has conducted a broad industry survey on both the impact of the crisis and emerging responses. The survey probed continuity efforts and remote workforce enablement as well as planning and investments being pursued against future potential disruptions.

While LendingClub, Prosper, Avant and SoFi are giving existing borrowers breaks in the short term, they're considering tightening credit as the coronavirus outbreak threatens to drag the economy into a recession.

Many borrowers will suffer unless the program, the central bank's latest response to the coronavirus pandemic, includes consumer loans issued by fintechs.

The joint statement said examiners will not impede banks’ responsible efforts to offer open lines of credit, closed-installment loans or other products to borrowers dealing with fallout from the pandemic.

Fintech companies only think they want to be banks. Banking may seem like a natural evolution, but that doesn’t mean fintech firms should become banks, says nbkc bank's Zach Anderson Pettet.

With schools across South Carolina closed until the end of April, the credit union is offering a perk for parents who can't do their jobs remotely.