Coronavirus

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.

The OCC’s efforts to bring the technology into the financial mainstream could help people in underserved communities execute payments more securely.

The move is part of the effort by banks and other companies to promote racial equity and be more sensitive to the stresses on front-line employees.

More than $1 billion in coronavirus relief went to small businesses that received multiple loans and a congressional subcommittee analyzing the Paycheck Protection Program says it has seen evidence of fraud in thousands more loans.

PaymentsSource Senior Analyst Michael Moeser interviews Visa's global head of contactless payments, Dan Sanford, about the factors causing a sharp rise in the use of contactless cards and mobile wallets across the globe.

Capital One Financial is reining in credit lines to reduce its exposure while the nation’s largest card issuer, JPMorgan Chase, is rolling out a new card designed for travelers and diners.

The trend toward payments that limit contact will continue beyond COVID-19, says EMVco.'s Brian Byrne.

The results of the American Banker/RepTrak Survey of Bank Reputations underscore the importance of communicating in a crisis.

A variety of new tools and strategies are emerging to manage payroll, billing, balances and cash management, says Bank of America's Karen Ly.

When the coronavirus pandemic forced teachers and students to move classroom learning online this year, school districts and educators suddenly faced a raft of challenges around handling new expenses for tools needed for cyber education.

After dropping for the past two years, reputation scores are once again rising, thanks largely to the goodwill banks have earned by helping customers and employees weather the coronavirus outbreak.