Coronavirus

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.

FHFA Director Mark Calabria said the health crisis will complicate the release of a proposal establishing new capital requirements for Fannie Mae and Freddie Mac.

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

COVID-19 is bringing business to PayPal, Blend, Symphony and others as homebound consumers and commercial clients seek more electronic services. But demand could cool if the economy slows further.

The temporary foreclosure moratorium on loans backed by HUD, Fannie Mae and Freddie Mac comes after lawmakers and housing advocates had pushed for steps to avoid consumers getting booted from their homes.

The South African Reserve Bank is warning the public of a scam currently underway in the country where fraudsters are collecting banknotes and coins because they claim they may be infected with the coronavirus.

It’s a rare occurrence for a business to receive a huge business spike while also shutting parts of the operation, but that’s where the coronavirus has landed Farmstead.

Loans with favorable terms and gift certificates are among the solutions being promoted by companies like Kabbage and Honeycomb Credit.

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.

While much of the digital world experienced a surge in usage during the coronavirus outbreak in China, one sector took an unexpected hit: Online payments.

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.

With coronavirus taking a significant chunk out of physical retail and services, the use of call centers and phone interaction with customers becomes even more important.

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.

The establishment of the Primary Dealer Credit Facility is among a flurry of recent actions by the central bank to limit the economic impact of the coronavirus.

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.