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.

Banks make emergency preparations as HSBC deals with confirmed case; the changes simplify regulations without posing additional systemic risks, the Fed says.

Some companies have begun canceling events as a result of the outbreak, but it remains to be seen whether industry groups will follow suit.

The global efforts to contain the coronavirus outbreak are leading to drastic actions that test the limits of what consumers will accept when governments and other entities use their payment data.

Fed makes emergency cut, JPMorgan tests contingency plan; the justices appeared divided on whether to give the president power to fire the agency’s director.

The Fed’s decision to cut its benchmark interest rate amid growing coronavirus concerns is bound to have an impact on banks, but just how broad and how deep remains to be seen.

In announcing the central bank’s emergency rate cut, Chairman Jerome Powell warned that the Fed can only do so much.

JPMorgan Chase is asking thousands of U.S. employees to work from home as it tests a contingency plan for closing domestic offices should the coronavirus spread, according to people with knowledge of the matter.

As India’s first billion-dollar share sale in more than two years and the only credit card firm in the nation to go public, SBI Cards and Payment Services Ltd.’s float may exceed the $1.4 billion target. The question is by how much in the face of the coronavirus outbreak.

The Federal Reserve has voted unanimously to cut the interest rate 50 basis points to 1.10% effective March 4, in the first emergency rate cut since 2008.

The company said that cardholders’ spending overseas has slowed sharply, especially for travel-related purchases, and that it won’t give a forecast for future quarters until next month.