Coronavirus

As the coronavirus outbreak starts to ebb in New York and pressure rises on the U.K. government to end London’s lockdown, the largest banks are grappling with how to adhere to social distancing rules.

Rodney Hood, chairman of the National Credit Union Administration, says the agency's Central Liquidity Facility can be a vital backstop if a crisis occurs, but it will be stronger if more credit unions chip in to make it a success.

The coronavirus pandemic is driving up demand for digital payments at B2B network Finexio, as suppliers opt for virtual cards for faster payments.

Think about all the people who started depositing their paper checks through a mobile app. Who tried that out and then thought, “Gee, I really preferred driving 15 minutes to the bank and waiting in a line”?

Mastercard CEO Ajay Banga says he is certain that science, medicine and innovation will lead the world out of the coronavirus pandemic, but there is little indication of when that will happen.

The Small Business Administration has processed more than 476,000 applications from struggling small-business owners, but lenders say access to the second round of the Paycheck Protection Program has been spotty.

At the start of 2020, the overriding security concern when it came to payments was fraud. After all, before the days of the global coronavirus pandemic, no one had really viewed hygiene as being a particular selling point.

Some bankers, economists, policy experts and even Mark Cuban say that creative uses of overdraft programs could be lifelines for consumers and businesses whose finances have been upended by the coronavirus crisis.

Elected officials are better off deciding who’s most deserving of federally backed coronavirus relief funds for small businesses.

Unlike recent affairs that were marred by protests, this year's meeting — held online because of the coronavirus outbreak — went smoothly as investors overwhelmingly approved the bank's slate of directors and executive compensation plan.

Fannie Mae and Freddie Mac are now able to buy loans in forbearance to alleviate pressure on the sector, but the fees charged by the mortgage giants to assume more risk could turn away some originators.

Barclays has experienced an incremental £264 million (about $330 million) in contactless spend in the month since it raised its per-transaction limit in response to the coronavirus pandemic, which has created an aversion to cash and contact payments.

Just over 40% of respondents with private student loans said they had worked with their lenders to come up with a plan for reduced payments.

While the entire economy will slow due to stay-in-place orders and temporary economic shutdowns, payments fintech is expected to fare much better than other investment sectors due to these trends.

With its "people helping people" mindset, the industry is uniquely positioned to serve consumers who are suffering during the pandemic. Credit unions need to capitalize on this.

Fintechs in the payments industry saw problems coming when the CARES Act’s SBA Paycheck Protection Program opened the floodgates for millions of coronavirus-stricken small businesses to apply for loans.

Lawmakers should approve a program to distribute stimulus funds using a government-sanctioned coin, which would be speedier than the current system.

The credit union regulator is making $125,000 in funding available for small, low-income lenders designated as minority depository institutions.

Chris Skinner, the author of "Doing Digital," defends banks' response to the coronavirus crisis and discusses why he thinks the tech giants won't be able to take market share away from traditional financial institutions.

The two lenders are being more aggressive than other European banks in putting a price on the economic devastation caused by the coronavirus outbreak.