Coronavirus

The credit union regulator revised its summary of what examiners will focus on to reflect legal and regulatory changes that have taken place since the COVID-19 outbreak began.

The Pittsburgh bank says fewer borrowers are asking for help and that many borrowers who received assistance are making payments again. But with the coronavirus pandemic still raging in much of the country, CEO William Demchak and other bankers are tempering their optimism.

The Minneapolis company said 75% transactions have been handled online since the pandemic hit.

EMVCo has developed guidelines that allow the travel industry to provide more data to issuers authorizing ticketing transactions as a way to reduce fraud in air travel, hotel and car rental purchases.

Businesses affected by the pandemic are accepting online and touchless in-person payments from consumers with the help of technologies developed originally for B2B invoicing and payments.

Some criticized the Fed’s decision to temporarily lift capital restrictions for megabanks, but the move will help ease the crisis.

Video banking can be safe and effective but members and staff need to be reminded of common-sense precautions to guard against cybercriminals.

A growing number of lenders are unloading loans made through the Paycheck Protection Program.

The energy sector, retail and hospitality are among the industries that are faring poorly during the pandemic. The bank expects loan losses to remain elevated well into 2021.

Net charge-offs fell at Citigroup and Wells Fargo, thanks to forbearance and federal stimulus. Leaders of those banks are warning that delinquencies could rise once the benefits of those programs wear off.

Switching core banking systems has long been done face to face, but the pandemic has driven the process into the digital arena. The change could be permanent.

The event is the last major credit union conference for the year to be moved to a virtual format due to the coronavirus.

Consumers now have more control over their own financial decisions and loan options.

The Fed’s recent action capping dividend payments might prove inadequate once the coronavirus crisis really hits banks’ capital.

Derek Webster, founder and CEO of the mobile point of sale provider CardFlight, talks with Daniel Wolfe, editor-in-chief of PaymentsSource, about the data CardFlight collects on small-business spending, which it updates every week during the coronavirus pandemic.

The firm set aside a record $9.5 billion for credit losses, about $4 billion more than analysts had expected, as it braces for a wave of coronavirus-related defaults.

The results show how Wall Street giants such as Citigroup leaned on volatile businesses in the second quarter to counter mounting signs of distress from lending operations.

The country's largest bank said second-quarter profit fell 51% to $4.69 billion, a smaller drop than forecast, as record trading revenue helped counter the biggest loan-loss provision in its history.

The Australian firm, best known for financing online purchases, is rolling out interest-free, point-of-sale loans at cash registers that it says could help U.S. merchants boost flagging sales.

Switching core banking systems has long been done face to face, but the coronavirus has driven the process into the digital arena. The change could be permanent.