Coronavirus

The COVID-19 crisis is forcing many banks to hold their spring shareholder meetings online only.

The legislation sponsored by Sen. Sherrod Brown, an Ohio Democrat, would require banks to offer the accounts so that consumers could easily access cornonavirus relief funds without turning to high-cost check cashers.

With economists fearing high unemployment stemming from the pandemic, the housing finance system is grappling with how it will recoup lost revenue from delinquencies, forbearance plans and other tremors.

Financial services personnel were among critical infrastructure groups that the Department of Homeland Security said were crucial for “public health and safety as well as community well-being” during the pandemic.

While financial institutions are encouraging customers to use their digital banking services rather than the branch or ATMs during the outbreak, attackers will also be looking to exploit this potential increased adoption of mobile banking and mobile payment apps, says OneSpan's Sam Bakken.

Financial services personnel were among critical infrastructure groups that the Department of Homeland Security said were crucial for “public health and safety as well as community well-being” during the pandemic.

Mastercard Inc. ditched its full-year outlook for revenue growth and lowered forecasts for first-quarter results it announced just a month ago.

Britons stuck at home due to the coronavirus outbreak are hitting the online casinos, providing a boost for operators of virtual games such as blackjack and roulette.

If the new accounting standard poses too many risks during an economic crisis, then it's probably not a good idea at all.

As coronavirus forces most shopping to occur online, merchants will likely see their product return policies tested by both good customers and the unsavory ones who abuse those policies for profit.

Member business loans have been on a roller coaster over the last year and as the pandemic impacts the economy, executives will need to closely monitor these portfolios to catch any problematic credits.

The impact of the virus and mitigation measures will contribute to an increase in payment disputes, says Chargebacks 911 and Global Risk Technologies' Monica Eaton-Cardone.

Regulators' decision to delay reporting for troubled-debt restructurings should allow banks and credit unions to be more nimble modifying loans impaired by the coronavirus outbreak.

The credit union regulator's Office of Credit Union Resources and Expansion is making grants of up to $7,500 available to low-income designated institutions.

The central bank's sweeping actions suggest a cash shortage gripping sectors directly hit by the pandemic. Banks were supposed to be protected by Dodd-Frank but are still vulnerable to a funding domino effect.

Congressional Democrats want forceful action to prevent damage to millions of Americans' credit scores during the COVID-19 pandemic. But the credit bureaus argue that the tools needed to protect consumers are already in place.

Congressional proposals could expand Federal Reserve liquidity support, delay a new credit loss accounting standard, provide certain accounts with unlimited deposit insurance and more to help businesses and consumers reeling from the coronavirus outbreak.

A new study finds that along with fears about employment, nearly half of those who have savings or an emergency fund are dipping into their reserves as a result of the coronavirus.

The adjustment period would call for special policies from Washington to protect households and businesses from the massive shutdown necessary to reduce the spread of the coronavirus, James Bullard said in a posting on the bank's website.

The Federal Housing Finance Agency authorized the government-sponsored enterprises to lend additional support to the mortgage-backed securities market and temporarily allow some flexibility in lending requirements to address coronavirus-related concerns.