Coronavirus

In a new twist on an old scam, cybercriminals have tried to get thousands of people to surrender their Wells bank account information by sending authentic-looking emails containing malicious links that lead to a fake website bearing the company's name.

Decentralizing staff makes strong internal controls even more important, Josh Cyphers and Derek Halpern of Nvoicepay write.

Consumers are parking their funds at financial institutions as lending slows and interest rates remain near zero, making it difficult for credit unions to deploy these deposits.

Business owners are changing banks at three times normal levels, a trend researchers attribute to their difficulty in obtaining emergency loans. If the forgiveness stage of the Paycheck Protection Program proves arduous, that rate could climb much higher.

After drawing industry opposition, legislation that would have added broad new borrower protections during the pandemic failed to advance out of the state Assembly.

Activity in the Paycheck Protection Program has waned, but some argue that many small businesses, especially those owned by minorities, will miss out if the June 30 application deadline isn't extended.

The credit union regulator has outlined a multiple step plan to return employees to normal operations.

With money flow suddenly stifled for millions of customers, demand for money management tools has skyrocketed.

The senior official said the Federal Reserve’s gauge of a firm’s performance under economic recovery scenarios will affect decisions about its capital distribution, but individual results of the analysis will not be made public.

Worried about a lack of demand and that some of their customers are ineligible, community banks are still on the fence about participating in the effort to back loans for businesses recovering from the pandemic crisis.

A blueprint that includes more CRA and tax credits for lower-income African Americans would help a demographic disproportionately harmed by the coronavirus pandemic.

The move to digital providers could mean cheaper cash transfers for a demographic that has been hard hit by this pandemic, with both senders and receivers being financially affected.

As the coronavirus pandemic took hold in March and the U.K. went into lockdown, many of the country’s e-commerce businesses suddenly found themselves facing a nigh unprecedented level of demand.

From hiring to health care, Vice Chair Anne Finucane shares details about Bank of America’s pledge to address vital needs in minority communities.

The bank says fraud attempts involving commercial wire transfers have escalated since the outbreak began. It's training employees and customers how to head off the often hard-to-detect scams.

Eastern Bank in Boston could raise as much as $1.7 billion to spend on acquisitions and technology investments that it says will be necessary to respond to customers' increasing preference for digital tools.

The inability of Democrats and Republicans to agree on a chairperson and lack of sufficient personnel have made it harder for the commission to do its job — hold Treasury and the Fed accountable for implementing the coronavirus relief law, observers say.

Fully decentralized digital currencies have far greater protection against total mismanagement and corruption of capital. Blockchain technology makes it practical for even state-controlled blockchains to make inflationary measures fair, says Nash's Fabio Canesin.

E-commerce sales boomed during the height of the coronavirus when consumers were stuck at home, and merchants had no choice but to accommodate the surge. But some retail industry observers are concerned about potential long-term costs from the pandemic.

Through employee education and deploying tools that allow you to rapidly thwart threats internally and externally, you can reduce the risk of payments fraud and gain greater peace of mind, says Fleetcor's Scott duFour.