Coronavirus

Many businesses are turning to the popular videoconferencing platform to stay connected to employees, but institutions need to think about measures they can take to utilize it safely.

When ACI Worldwide acquired mobile and bill payment technology from Western Union last year, it couldn't have predicted an environment in which consumers would be handling nearly all of their finances from home.

Community banks that have used the Paycheck Protection Program to help businesses ride out the coronavirus outbreak are looking to turn that goodwill into deeper loan and deposit relationships down the road.

Queued-up loans. Extra bankers. Government tweaks to promote fairness. None of these precautionary measures has been enough for the second round of the Paycheck Protection Program to avoid the pitfalls of the first.

The central bank expanded the reach of the program as pressure mounts on the government to support localities struggling economically because of the coronavirus pandemic.

As banks accept new applications for the paycheck program, they are dogged by complaints that they prioritized wealthy borrowers. But lenders likely fast-tracked clients they knew best under difficult circumstances, observers say.

Use of banks' mobile apps and websites has risen about a third since the coronavirus crisis began, according to J.D. Power.

The Small Business Administration's systems froze up shortly after the latest Paycheck Protection Program was launched Monday morning.

The latest version of the business lending initiative has $60 billion set aside for smaller lenders, including credit unions, but there are concerns the money will be allocated just as quickly this time as it was during the first round.

When Plastiq pivoted its bill-payment services to target cash-strapped SMBs instead of consumers, the startup had no way of knowing how coronavirus would affect its growth.

The FHFA's director said the announcement is meant to “combat ongoing misinformation” about efforts to let homeowners skip mortgage payments due to the coronavirus pandemic.

The modern-day payment system was, over the last two decades, tailor-made for the shelter-in-place conditions many live and work under today.

The modern-day payment system was, over the last two decades, tailor-made for the shelter-in-place conditions many now live and work under today.

Like other businesses, hospitals have been forced to make instant emergency changes because of the coronavirus. But many hospitals are concurrently getting a rush of demand for service with an unclear revenue stream.

Inside Citigroup's headquarters in Manhattan, executives are trying to solve a problem bedeviling much of Wall Street: How to get employees up elevators.

The billionaire investor and entrepreneur sees problems with small businesses having to apply for loans to get coronavirus relief. He says a more efficient approach would be to let them run negative balances on their bank accounts.

Lenders are being urged to prepare applications for the latest version of the Paycheck Protection Program.

The bureau said it began developing the standards before the coronavirus pandemic. But more transfers may occur as some servicers struggle to meet their obligations during the economic downturn.

The Georgia bank could rely more on drive-through-only branches, trim office space and reassess staffing levels after the coronavirus crisis, according to Kessel Stelling.

Lenders are set to flood the SBA with new PPP applications; long nights and weekends the new normal; Fifth Third rethinks new-branch designs in light of coronavirus; and more from this week's most-read stories.