Coronavirus

The legislation would let banks postpone the start date of the Current Expected Credit Losses accounting standard and delay categorizing pandemic-related loan modifications as troubled debt restructurings.

With one study showing consumers racking up additional credit card debt this season, some members may be eager to consolidate their balances in the year ahead.

While there has been a general trend of paying people faster for work already performed, starting with gig workers, COVID-19 has created (or exposed) many issues that are fueling the shift toward on-demand pay, especially for hourly workers.

Compassionate billing, transparency and digital processing can all improve conditions for providers and patients, says Cedar's Florian Otto.

Rapidly spreading coronavirus and an unclear Brexit outcome are bearing down on the U.K., leaving the fate of London as a technology and finance hub in the air as 2020 draws to a close.

The legislation allows the Small Business Administration to waive fees and raise the guarantee for 7(a) and 504 loans, which could encourage more small businesses to apply for loans as the economy recovers.

Consumers avoiding stores because of COVID-19 have driven triple-digit sales growth of Blackhawk’s digital gift cards sold through retailers’ websites, with the final weeks of the year expected to push digital cards to a tipping point.

Under the Federal Reserve’s loosened restrictions, big banks can buy back a limited amount of their stock starting next quarter, but only JPMorgan Chase has announced detailed plans to do so.

The Pennsylvania senator, who will chair the Banking Committee if Republicans hold their majority, agreed to modify an amendment restricting the Federal Reserve’s emergency powers that Democrats had criticized as too extreme.

At least two items on the industry's Paycheck Protection Program wish list were delivered: provisions allowing many existing borrowers to obtain new funding and streamlined forgiveness for loans of $150,000 or less.

Many companies had to pivot sharply in just a month or two. Others were rewarded richly for their earlier investments in digital technology.

Moving into 2021, curbside will continue to be a significant element of the retail experience as customers grow to prefer the convenience. Getting a head start on streamlining checkout now will set your company up for success in the next digital decade, says Mobiquity's Brittany Mills.

The amendment backed by Sen. Pat Toomey and other Republicans to block the central bank from reviving CARES Act lending facilities has emerged as a flashpoint in congressional negotiations over pandemic relief.

Bank and credit union groups are pushing to include the industry’s front-line workers in the next priority group, but even as a recommendation is coming soon from a CDC advisory panel, the decision ultimately will be made state by state.

The Federal Reserve has already agreed to shut down emergency credit programs funded by the Coronavirus Aid, Relief and Economic Security Act, but Sen. Pat Toomey, R-Pa., and others want Congress to ensure the central bank cannot revive them.

Noninterest income has bolstered profits this year. But its growth is expected to slow over the next two years, making for a gloomy earnings outlook unless vaccine distributions and the economic recovery are relatively swift.

The San Francisco-based bank will keep most employees working from home for at least a month longer than last announced.

Ultimately, whatever options banks and fintechs deliver for this next phase of the pandemic must appease not only the merchants but their customers as well.

The percentage of seriously delinquent loans hit 5.8% in the third quarter, up from 1.5% a year earlier but down from 6.8% in the second quarter.

Citigroup will soon offer workers the ability to take a 12-week sabbatical as part of a bevy of new employee perks in the wake of the coronavirus pandemic.