Coronavirus

Twelve months after the public health emergency began, executives say it forced them to reexamine where employees work, retail strategies, office layouts and more.

To drive the recovery we need to move beyond traditional data and models to incorporate new transaction and payment information that is more timely, more insightful, and more inclusive, FinRegLab's Melissa Koide and FICO's Larry Rosenberger write.

Online and hybrid gatherings last year left shareholders demanding that companies make it easier to join the meetings, ask questions and vote this time around.

Both corporations and nimble outfits have been forced to search for new ways to innovate, says Hangar 75's Ian Wilding.

Banks have borne the brunt of the criticism from consumers still waiting for coronavirus relief funds to land in their accounts. But the industry says the lag time is the fault of the government and its antiquated payments system

The Senate Banking Committee is questioning whether Goldman Sachs Group paid dividends at the expense of lending to businesses and households during the pandemic as lawmakers take a broad look at the support big banks offered clients to get through the economic slump.

The card brand is working with the International Chamber of Commerce to support authentication to vaccine and test tracking. It may not be an easy task.

The nation's second-largest credit union is thanking all full-time employees for their work since COVID hit. But even as vaccinations ramp up, remote work will be the norm for several more months.

It's crucial small businesses continue to expand user experience improvements made during the first year of the pandemic, says NMI's Nick Starai.

The House Financial Services chair joined other Democrats to warn the federal agencies against further easing of the supplementary leverage ratio, a key capital requirement for large banks.

Lenders are preparing scores of Paycheck Protection Program applications to secure approval from the Small Business Administration by March 31, but unresolved error codes continue to hinder their efforts.

Like a lot of small restaurants, Ann Arbor's Zingerman's Deli saw its status as a social destination disappear at the start of the pandemic. The technology that helped it hang on will forge a new business model.

“We were already shifting to recruiting more problem solvers than people handling transactions,” said Robert Fisher, CEO of Tioga State Bank in New York and incoming chairman of the Independent Community Bankers of America. “That pace of change has accelerated.”

The largest banks have cut compensation or held it steady for their top executives. Many regionals, though not all, are expected to make similar decisions as boards balance the desire to reward strong leadership during the pandemic with lackluster financial performance and public relations concerns.

Credit investors are stepping into a void left by banks and insurance companies and providing debt financing for top-quality hotels in a bet on a post-pandemic recovery, according to a report from the real estate services firm JLL.

The backing from the Emergency Capital Investment Fund is meant to help financial institutions direct aid to lower-income communities struggling in the pandemic.

Technology is helping some institutions find new growth opportunities as lending contracts, but many CUs also were able to use data to assist members during the early days of the pandemic.

The industry quickly pivoted to remote work once the pandemic hit, but panelists who spoke during CUNA's online Governmental Affairs Conference predicted many institutions will utilize a mix of working from home and in the office once things return to normal.

Dr. Scott Gottlieb, a commissioner of the Food and Drug Administration under former President Donald Trump, said during CUNA's online Governmental Affairs Conference that now that many vulnerable populations have been vaccinated, the threat from the virus has lessened somewhat.

The U.S. economy expanded modestly in the first two months of the year and sentiment among business owners is picking up as vaccinations bolstered the prospects for economic growth, the Federal Reserve said.