Coronavirus

A pandemic-driven surge in bank deposits helped drive the agency's insurance reserves below their statutory minimum.

Only one of the 118 loans bought by the Federal Reserve through Aug. 31 was close to the $250,000 minimum in the rescue program, aimed small to midsize businesses hurt by the pandemic.

Bank of America announced how it plans to spend a third of its $1 billion commitment to address racial and economic inequities and the effects of the coronavirus pandemic in communities of color.

Thanks to a donation from the Credit Union Federation of Korea, the global trade group is working with international partners to distribute personal protective equipment to institutions in need.

Fintech lenders that reported a surge in missed payments at the start of the pandemic have seen credit quality rebound substantially since. But credit performance could still deteriorate if high unemployment persists and Congress fails to enact more relief measures.

The bank said the conduct includes “instances of customers misusing Paycheck Protection Program Loans, unemployment benefits and other government programs.”

A new jobs report was better than expected, but recent NCUA data on credit union performance for the first half of 2020 shows how hard the industry has been hit by COVID-19.

A mix of online, offline and point of sale credit is necessary to manage new retail models, says PPRO's Steve Villegas.

Laughter in the workplace helps boost employee morale, something critically needed in 2020.

Donor management provider Pushpay has added new software that will help churches target donations through digital channels while providing more interactions and communication within congregations.

A new report from the National Credit Union Administration shows how hard the industry was hit during the second quarter as businesses closed and consumer spending dropped.

How Bank of America plans to stay ahead of the pack in digital banking; Wells Fargo gets top marks for COVID-19 safety; PPP lenders nearing $10B asset mark fear regulatory ordeal; and more from this week’s most-read stories.

When the U.K. went into a coronavirus-induced lockdown on March 23 as Prime Minister Boris Johnson announced school, office and retail closures, it caused a ripple effect on the U.K. e-commerce market.

Two bills — one providing relief from a loan accounting standard and another extending forbearance measures — would collectively contain credit losses.

Several community banks are warning Congress that their participation in the Paycheck Protection Program could cause them to cross a threshold that may lead to, among other things, supervision by the CFPB and a cap on interchange fees.

The company is selling $355 million of Paycheck Protection Program credits to The Loan Source, a nonbank lender that is also buying PPP loans from three other banks.

When it comes to branch cleanliness and mask-wearing, the San Francisco bank is more diligent than its rivals in helping to reduce the spread of coronavirus, according to a new study.

Discover is working to help Black-owned businesses and other merchants maintain foot traffic — safely — through the use of the card network's payments technology and its marketing heft.

Visa Inc. said overall spending on its cards by U.S. consumers climbed in July and August even after elevated unemployment benefits expired.

The first wave of grants was intended to provide payments equating to 80% of average trading profits over the course of three months. However, some far exceeded this amount.