Banking

The bill, which includes $310 billion in new funding, is expected to pass the House on Thursday; Chase has no timeline for returning but plans to bring back employees to offices in stages.

The online lender, reeling from the economic fallout of the coronavirus pandemic, also said it is cutting senior executives' salaries by 25%.

The House is expected to vote later this week on the bill expanding emergency relief for small businesses reeling from the effects of the coronavirus.

The House is expected to vote later this week on the bill expanding emergency relief for small businesses reeling from the effects of the coronavirus.

The pandemic won’t halt the Cincinnati bank's plan to open about 100 branches in the Southeast, but features could be added to accommodate social distancing.

In a rare show of unity, banking industry and consumer advocacy groups told congressional leaders that it is not too late to ensure individuals can access all of their coronavirus relief funds promised by the government.

Small banks are a lifeline for many local businesses and should be given first crack at distributing funds from a continuation of the federal stimulus program.

John Pitts, policy lead for Plaid, has some ideas to ensure Paycheck Protection Program legislation set to be voted on this week targets the companies most in need of a cash infusion.

Rather than selling off assets at a steep discount, the Dallas company is considering taking equity positions in energy firms struggling to make loan payments in the wake of collapsing prices.

The SBA’s Paycheck Protection Program is nearly depleted, but there are ways small banks and fintechs, with help from Congress, can remedy the situation.

The lender behind the credit cards for Gap, J.C. Penney and other retailers took a large provision for loan losses and abandoned full-year earnings guidance as the nationwide shutdowns tied to the coronavirus pandemic have led to a sharp decline in spending on its cards.

Credit Acceptance Corp., the lender to car buyers with subprime credit scores, warned it's seeing a sharp drop-off in payments as people shift their financial priorities to get through the coronavirus pandemic.

The administration and Congress are said to be close to adding $310 billion to the small business loan program; the department is looking at whether it can prevent banks from seizing government checks.

The Dallas company also reported a first-quarter loss after the coronavirus outbreak caused "significant deterioration" in its economic outlook.

MVB Financial plans to use Paladin Group to advise its bank and a number of its fintech clients.

Lawmakers are considering a plan to reserve Paycheck Protection Program funds for lenders with $50 billion in assets or less, a figure that would include nearly all credit unions.

Bank of America and U.S. Bancorp were also named in a lawsuit filed in Sunday in which the banks are accused of prioritizing large loans distributed through the Paycheck Protection Program in order to maximize fees.

After more than tripling its loan-loss provision, the $182 billion-asset company became the first large U.S. bank to report a quarterly loss as a result of the coronavirus pandemic.

Overall credit card spending is down 32% while debit card purchases have declined by 12% for the week ending April 12.

Lawmakers are considering a plan to reserve at least $50 billion in Paycheck Protection Program funds for customers of community banks and small regionals.