Coronavirus

The change — effective immediately — will reduce capital demands by about 2% overall, the Fed estimated, and will be open for a 45-day comment period.

A coronavirus-spurred slowdown in travel and restaurant spending has credit card issuers reworking their offerings.

Lloyds Banking Group Plc will offer interest-free overdrafts and credit card payment freezes to customers struggling during the coronavirus pandemic, pre-empting the Financial Conduct Authority’s latest measures to help households.

About 1,000 interns were notified of the change this week. They will still receive the pay and housing funds outlined in their original offer letters.

The number of deals per year was declining even before the pandemic, and it's unclear when things might pick up again.

The U.K.’s growing panic about the spread of coronavirus has created an open season for fraudsters, with government agencies and cybersecurity companies reporting unprecedented levels of criminal activity since the virus began sweeping across the globe in January.

If Capitol Hill plans another round of stimulus, Democrats could have more leverage to demand steps such as suspending overdraft fees or placing a temporary cap on consumer lending rates.

Amid the coronavirus emergency, the central bank may have to decide at what point the imperatives of an economic crisis outweigh the requirements of its most severe enforcement action in recent memory.

The agency said lenders should avoid reporting delinquent payments to credit bureaus for consumers who have sought payment relief due to the pandemic.

For the second time in a week, the National Credit Union Administration has delayed the deadline for public comment on a proposed regulation.

Bank of America said it has agreed to allow 50,000 mortgage customers to defer payments for three months because they've lost income as a result of the pandemic.

The pandemic may force the Small Business Administration to rely more on fintechs and digital channels to hasten loan approvals, a shift that could stick.

The coronavirus pandemic has forced Irish fintech Prepaid Financial Services Limited (PFS) to drop its sale price by $117 million to close its deal with EML payments Limited.

One-third of small business owners reported that they don’t expect to survive for more than three months in the current coronavirus-impacted restrictions on shopping, dining and travel.

Federal Housing Finance Agency Director Mark Calabria said a virus-induced financial crisis might give rise to more delinquencies and foreclosures than the 2007 subprime mortgage meltdown.

CUs in the Eastern European nation don’t offer online financial services, meaning a predominantly older membership base could be at increased risk for contracting COVID-19.

In supporting the economic recovery from the coronavirus pandemic, lenders have a chance to restore public trust damaged in the last financial crisis. But they face tough decisions on dividend cuts, executive pay, furloughs and deeper changes to their business model in the process.

Interchange fees are a major part of the costs merchants pay to accept payment cards. While merchants seek relief from fees during a time in which their businesses face serious damage from stay-at-home edicts because of coronavirus, the credit card companies and banks quickly began to dig in their heels.

The firms say they can't handle crushing loan demand from small and medium-sized businesses.

Online lenders can help the agency distribute loans faster as it gets set to deploy emergency funding to small businesses.