Coronavirus

The Consumer Financial Protection Bureau says the proposal would increase access to credit, but consumer groups argue that it will encourage lenders to make high-cost loans while protecting them from legal liability.

While anyone can lose employment during a pandemic or recession, below a certain threshold it becomes more likely that workers could lose their income — and thus default on credit card payments.

Dana Wade, a former OMB official, says a strong capital footing will help the Federal Housing Administration weather an uptick in delinquencies and ensure the mortgage market is viable once the economy recovers.

A rise in chargebacks has renewed a push for an independent standards body by the SPP, formed in 2018 to represent merchant groups .

The Detroit regional relied on smaller teams, flexible deadlines and tightly defined tasks to convert the systems of Chemical Financial and rebrand.

Dana Wade, a former OMB official, says a strong capital footing will help the Federal Housing Administration weather an uptick in delinquencies and ensure the mortgage market is viable once the economy recovers.

The past few months have provided no shortage of crises that call out for faster access to funds, giving developers a new impetus to hasten transaction processing.

This isn’t the first time the industry has faced an influx of funds amid a slowdown in lending, but this instance could prove harder to manage than in the past.

Jo Jagadish, who joined TD Bank in April as head of commercial products and payments innovation, spent her childhood moving from country to country, so she's used to a world without borders — the kind of world emerging from the capabilities of fintech and demands of the pandemic.

Housing advocates say lenders should require property owners who request loan forbearance to pause evictions during the coronavirus pandemic. But the banking industry says what’s really needed is another round of government stimulus.

The Jacksonville, Fla.-based credit union said it needs the extra staff to handle an influx of member calls and to help with a planned expansion.

The Canadian bank is doing something few U.S. institutions have done: build an online hub with tutorials designed expressly to simplify the online banking process for newcomers.

A pioneer in the commercial mortgage-backed securities market argues the HOPE Act would bail out savvy investors who don't deserve it. Barclays predicts that kind of attitude will make passage difficult.

CEOs during CUNA Mutual Group's Discovery conference discussed giving workers more time off and taking other steps to keep up employee morale.

The chairman of the National Credit Union Administration spoke candidly about his experiences as a Black man during a panel discussion that touched on issues including race and the pandemic.

The massive shift to digital has created new challenges in cross-border payment processing, says Tipalti's Manish Vrishaketu.

The new “adverse market fee” for refinanced mortgages resembles steps the companies took to combat the 2008 mortgage crisis. But critics charge it isn’t necessary and will hurt borrowers’ ability to tap into low rates.

The rapid move online boosts false positives, false negatives and actual fraud, says Adara's Nguyen Nguyen.

The industry's return on average assets has already dropped substantially and there are predictions that could get even worse. Many institutions will have to deal with elevated provisions for loan losses and expense management to survive.

Criticized assets are on the rise, especially in commercial portfolios, and may be the forerunner of a wave of loan losses later this year or next year unless economic conditions strengthen.