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The Fed must set up a "family financial facility" that sends billions to households and small businesses so banks don’t misdirect relief funds.

Some banks have closed branches or restricted access and bank tech resources are being overwhelmed; bank pays a record SKr4 billion ($400 million) for issues.

Institutions across the country are restricting entrance to their facilities to help curb the spread of COVID-19 but profitability issues could crop up if the pandemic drags on.

The most innovative fintech solution may be debit, which is already integrated into digital-first experiences in a way that’s fresh and exciting for the consumer, says Meta Financial Group's Matt Withey.

Daily edition for March 20, 2020.

While the global coronavirus outbreak may be grounding corporate travel to a near standstill, leading travel companies and fintechs are continuing to hone AI-based payments platforms to reduce the problem of corporate travel fraud.

Refinancing activity is surging, existing borrowers are inquiring about loan modifications, loan closings are being delayed by more complex credit checks — and banks are short on people to handle it all.

BankMobile became profitable thanks to its high-volume, low-cost acquisition of student customers. The new CEO's challenge will be holding on to them after they graduate.

Truist, Key, Fifth Third and PNC became the latest banks to restrict branch access to the drive-through window or appointment only.

The agencies said banks could receive Community Reinvestment Act credit for activities addressing the virus fallout, and clarified earlier guidance encouraging banks to dip into their capital buffers.

FDIC Chairman Jelena McWilliams, citing concerns about the coronavirus outbreak, is the first regulatory chief to call for suspending the accounting standard for expected loan losses.

Forbearance and loan-modifications programs implemented after the financial crisis left borrowers bewildered and angry. Now the mortgage industry wants to create a common standard for providing relief to homeowners whose livelihoods have been upended by the coronavirus pandemic.

The FDIC chairman, citing concerns about the coronavirus outbreak, is the first regulatory chief to call for suspending the accounting standard for expected loan losses.

Mark Calabria said Fannie Mae and Freddie Mac are currently equipped to handle elevated delinquencies, but they might need congressional or Federal Reserve help if fallout from the coronavirus persists.

Challenger bank bunq has expanded its card partnership with Mastercard to cover 30 European countries as it grows its mobile only footprint coupled with its Green Card.

The proposal from Sens. Marco Rubio and Susan Collins would provide the Small Business Administration with $300 billion to help companies hurt by the coronavirus outbreak meet immediate financial obligations, including payroll.

The voluntary agreements were meant to help the FDIC make staffing changes ahead of a wave of retirements. But concerns about the coronavirus means those plans will be put on hold.

The surge in online and mobile use is a high-profile test for the industry — and could foreshadow a permanent consumer shift.

Groups often will oppose mergers on Community Reinvestment Act grounds. But the proposal would tighten standards for when the agency includes “adverse comments” in the process.

Over the past year, buy now, pay later schemes have risen to become the trendiest method of retail payments in the U.K.