Banking

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

Utah bank is expected to launch next year; banks want to hold off regulations that would hamper efforts to keep money flowing during virus crisis.

The coronavirus outbreak has led many banks to close branches, but for those that remain open, it's a new normal.

The biggest bank in the U.S. will temporarily close 20% of its branches, following recommendations by health experts. It said it would also operate its remaining branches at reduced hours.

Banks are avoiding the once booming hospitality business, or charging a premium for additional credit, as new data shows how big a hit hoteliers have taken from the pandemic.

High-tech self-service channels can help credit unions effectively and efficiently meet members' needs during a time of social distancing.

Dozens of firms in industries most immediately hit by the virus and oil-price war — such as leisure, transportation, health care, energy and mining — have been drawing billions of dollars from existing credit lines.

The NACUSO annual gathering and a new event focused on cannabis banking for the industry have both been shuttered.

Online platforms and apps can be utilized to quickly support small businesses and consumers facing unexpected financial hardship.

The central bank made two more moves to keep credit flowing; the Housing Policy Council plan would halt mortgage payments during the COVID-19 crisis.

As more states close schools and issue shelter-in-place directives, credit unions are increasingly shifting their staff to work-from-home arrangements.

Heritage financial institutions that don’t support emerging embedded payments and banking risk further erosion of younger cohorts and losing material franchise value to fintechs, challenger or neo-banks equipped to originate and service accounts at the edge of partner networks, say payment consultants Richard Crone and Heidi Liebenguth.

The pandemic has upended staffing plans, sparked concerns about servicers’ capacity to handle the expected crush of missed payments, and even raised questions about their ability to stay afloat.

Lenders are concerned that the coronavirus outbreak will increase vacancies and add to credit risk.

On the same day the Federal Deposit Insurance Corp. said it will soon rule on two applications, the agency also proposed benchmarks for all firms that want to own industrial loan companies.

Customers are increasingly concerned about taking a financial hit from the COVID-19 crisis and want to know more about fee waivers, credit-line increases and other things banks could do for them.

Nebraska bankers sued after MembersOwn Credit Union successfully added eight counties to its field of membership last year.

After resigning last year under pressure from federal policymakers, the former executive received no severance benefits or annual incentive award.

Sens. Sherrod Brown and Elizabeth Warren criticized Director Kathy Kraninger for not issuing any public enforcement actions against auto lenders during her tenure.

The serial entrepreneur has created a challenger bank called One for middle-income people with complicated financial lives.