Coronavirus

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.

Some industry observers are calling on the Treasury Department to bring back the Small Business Lending Fund to help small companies stay afloat during the coronavirus pandemic and get back on their feet once the crisis passes.

The coronavirus has forced shutdowns and closures of over 90% of U.S. casino properties halting annualized payments of $74 billion in wages and $41 billion in tax revenues.

The rush to unload mortgage-backed securities signals that a credit meltdown that began with corporate bonds is spreading to other corners of the market.

As lawmakers scramble to enact coronavirus relief legislation, some industry groups have suggested Americans could be in for “one of the greatest economic disruptions since the Great Depression.”

Growing recognition that coronavirus can survive on hard surfaces for up to 72 hours — making it riskier to use PIN pads and touchscreens at the point of sale — is causing merchants around the world to rethink payment technology, especially at supermarkets.

The coronavirus is changing how consumers interact in branches and banking online. Bank leaders should be prepared.

Online platforms and apps can be utilized to quickly support small businesses and consumers facing unexpected financial hardship.

Flushing Financial, which had planned to complete its purchase of Empire Bancorp in early April, has moved its target date back by about two months.

Zimbabwe’s severe cash shortage is providing the impoverished southern African country with some relief in the fight against the coronavirus: One less way of spreading the disease.

To get permission to leave China’s coronavirus epicenter and return to his job in Hong Kong, a Chinese banker needed two things: a letter from his company and a green health code from Alipay.