Coronavirus

Realize that everyone is your customer; your members, employees, partners, vendors and the general population, says OBI Creative's Mary Ann O'Brien.

Digital wallets arguably reached a tipping point this spring when contactless payments jumped 40% in response to concerns that cash and payment terminals were helping to spread the coronavirus, Vidya Peters of Marqeta writes.

The three-month extension for the central bank's lending programs is one of several recent steps by policymakers to stabilize the economy as the coronavirus pandemic stretches through the summer.

The Senate Republicans' coronavirus relief package, known as the HEALS Act, would continue to make the loan program available to businesses, but any final bill would need to be negotiated with House Democrats.

Bill Clerico created WePay during the last financial crisis, and sees a similar opportunity now. The coronavirus pandemic is affecting different markets in vastly different ways, and easing the flow of capital is just one way to provide help.

The Senate Republicans' coronavirus relief package, known as the HEALS Act, would continue to make the loan program available to businesses, but any final bill would need to be negotiated with House Democrats.

Like many other institutions, the South Florida-based credit union had reopened its locations after restricting member access from March to May while much of the nation was in lockdown.

Current, Stoovo and other companies are reaching out with low-cost, low-fee financial services and even tools to help users search for part-time jobs.

The National Credit Union Administration will also discuss the current expected credit losses standard, which trade groups have argued that the industry should be exempt from.

Checkout-free stores still feel experimental, but the coronavirus pandemic is pushing more retailers to contemplate how to reduce human interaction in larger settings.

Prioritizing and accelerating strategic payments transformation initiatives will mitigate long-term revenue constraints and, if executed correctly, reduce total cost of ownership, says Icon Solutions' Simon Wilson.

Financial firms should offer debt consolidation and faster payment services to help employees who may be struggling through the coronavirus pandemic.

BBVA and Rockland Trust have taken a highly numbers-driven approach to branch reopenings. All banks are having to rethink their branch networks during the pandemic and beyond, and analytics software is helping.

A new Small Business Administration notice explains what steps lenders must take to seek approval of their forgiveness decisions under the Paycheck Protection Program. But lenders say lawmakers and regulators must do more to cut red tape.

Two credit unions' approaches to digital banking helped them provide superior member service as the coronavirus limited in-branch interactions.

The slowdown in elective medical procedures caused by the coronavirus pandemic led to less spending from HSAs and a decline in interchange income for the Connecticut bank.

The legislation, which has yet to pass the House, is meant to ensure coronavirus relief funds go to consumers and are not diverted to debt collectors.

Credit Union of Texas, based near Dallas, is believed to be one of the first in the industry to debut this perk.

With the coronavirus pandemic intensifying and hopes for a quick economic recovery fading, banks large and small are reducing headcounts, shuttering branches, shedding office space and generally trying to trim expenses wherever they can.

Three months ago, Stephen Squeri, the chairman and CEO of American Express, declared a global "economic free fall" due to the coronavirus. Its second-quarter earnings show how far a fall it has been.