Banking

As universities move classes online, there are signs enrollment could be down in the coming academic year. That could have a major impact on credit unions’ private student loan portfolios.

Online lenders, core providers and software companies have created digital platforms that speed up and simplify Paycheck Protection Program loans for businesses reeling from the coronavirus pandemic.

Its prediction that business conditions will remain weak this year — and into next year — stands in stark contrast to forecasts from political leaders that the economy will rebound quickly from the coronavirus pandemic.

A trade group says suspending so-called beneficial owner rules would help financial institutions make more small-business loans through the Paycheck Protection Program.

The industry was already on a path toward increased digital services, but the global pandemic is showing why CUs need to speed up that process.

The San Francisco bank said the amount of loans that could go into forbearance so far represents a small percentage of its total portfolio.

Though hopeful for a second-half bounceback in the economy, JPMorgan Chase is prepared for 20% unemployment, lackluster GDP and losses in its loan portfolio that could reach tens of billions of dollars.

Unlike in 2008, banks have become a steady force during the coronavirus pandemic.

Dean Bass, chairman and CEO of Spirit of Texas Bancshares, had taken a leave of absence after contracting COVID-19.

The Pennsylvania company said it faces $7.5 million in potential exposure from a commercial lending relationship.

Republicans balked at measures like an overdraft fee ban and interest rate cap in the recent stimulus bill, but Sen. Sherrod Brown, D-Ohio, isn’t done trying to add such proposals to future relief packages.

The National Credit Union Administration board unanimously approved changes to an interim rule regarding the regulator's Central Liquidity Facility.

The results preview a tough first year for new CEO Charlie Scharf as the coronavirus pandemic brings the U.S. economy to a standstill.

The nation's largest bank set aside nearly $8.3 billion for bad loans, more than double what some analysts had expected.

Bank’s earnings fall 69% in the first quarter; this week’s earnings reports could determine whether banks will need to suspend dividends.

By helping borrowers now, banks hope customers can quickly catch up on payments once the coronavirus pandemic ends. If they can’t, interest income will remain low and charge-offs could pile up if the crisis drags on.

Sherrod Brown, the top Democrat on the Senate Banking Committee, explains why consumer protection is so important as the coronavirus pandemic ravages the economy.

PayPal, Intuit QuickBooks Capital and Square Capital have been named direct lenders in the Paycheck Protection Program, and more await the go-ahead. They could be crucial to reaching the smallest firms trying to survive the economic toll of the coronavirus pandemic.

Just days after the Fed lifted Wells Fargo's asset cap so it could make more Paycheck Protection Program loans, it warned customers its queue is long and they may want to go elsewhere before program funds are exhausted.

Consumers are increasingly looking to consolidate debt, while loans for more luxury expenditures, such as vacations, are a thing of the past.