Coronavirus

Alibaba Group Holding Ltd.’s parcel and meal delivery arms have returned to pre-coronavirus outbreak staffing levels, the latest example of how China’s largest corporations are getting back to work after Beijing’s entreaty to safeguard economic growth.

Investors worry the drop in crude prices could spark a rash of defaults; the bank denies it opened accounts without customer permission to meet sales quotas.

There may only be so much institutions can do if the outbreak affects borrowers' ability to repay credit.

Concerns about the economic fallout of coronavirus have mostly focused on supply chain disruptions. But fears are growing that weakening consumer demand could spark a recession.

State and federal officials committed to providing “appropriate regulatory assistance” to banks whose customers may be hurt by the coronavirus outbreak and said prudent measures would not be subject to criticism by examiners.

Sen. Mark Warner led a group of Democratic senators in calling on bank, credit union and GSE regulators to give detailed instructions on helping consumer and commercial borrowers hurt by the COVID-19 outbreak.

The employee, who works on the 23rd floor of the bank's 555 California St. offices in San Francisco, "is at home while their health is being closely monitored by their doctor and public health authorities," a spokeswoman for the bank said.

The outbreak and a free fall of oil and stock prices are rattling bankers at this year's ICBA gathering in Orlando, Fla.

The Consumer Financial Protection Bureau will have a busy week starting with Director Kathy Kraninger testifying before lawmakers on Tuesday.

Grab Holdings Inc. closed offices in Singapore and Thailand for five days of cleaning after a Singapore-based employee, who previously visited the Bangkok office, tested positive for the coronavirus.

The annual payments event is the first credit union event to be cancelled due to concerns surrounding the outbreak.

Elizabeth Duke and James Quigley step down from board; the bank is asking corporations to divulge their exposure and preparations as part of risk assessment.

The agencies recommend steps financial institutions should take to proactively prevent disruption of operations, minimize contact between staff and consumers, and plan for how affected employees reenter the workplace, among other things.

The agencies recommend steps banks should take to proactively prevent disruption of operations, minimize contact between staff and customers, and plan for how affected employees reenter the workplace, among other things.

Mastercard Inc. closed its office in Sao Paulo and an annex location near its headquarters in New York after an employee contracted coronavirus.

A handful of banks keep trying to make the customer-Alexa connection happen; banks are more worried about payments firms than other types of fintechs; how financial institutions are coping with COVID-19; and more from this week’s most-read stories.

For employers, the global outbreak marks a sea change for many industries long resistant to flexible work arrangements, forcing renewed debate on WFH policies and flextime for daycare.

U.S. lawmakers are pushing regulators to provide room for banks to work out loans with businesses and consumers who may be affected by the coronavirus.

As businesses change strategy and staff deployments quickly, their payment needs and flows will change rapidly, says BHMI's Jack Baldwin.

The banking regulators have announced that they are postponing next week’s National Interagency Community Reinvestment Conference because of growing health concerns about the virus outbreak.