Coronavirus

A record amount of funds have flowed into banks since the coronavirus hit, but a low-rate environment and tepid loan demand are complicating efforts to put that money to work.

At a congressional hearing, Fed Chairman Jerome Powell discussed steps to get the flow of coins to financial institutions back to pre-pandemic levels, as well as ways to ease other industry burdens.

Traditional U.K. businesses found innovative ways to serve their customers under coronavirus restrictions. Iconic London black taxi cabs, independent local community pharmacies, old-fashioned pubs, and QSRs have turned to in-app mobile payments to enable their businesses to carry on.

Federal Reserve Chair Jerome Powell took a question Wednesday about something that doesn’t come up very often in congressional hearings about monetary policy: coinage.

The FHFA and FHA both announced for the second time that they were delaying the freeze to protect borrowers and renters during the coronavirus pandemic.

Even where there have been innovations in the B2B payments space, often it has not accounted for the needs of both sides of the B2B transaction, and thus, adoption has been slowed, says Billtrust's Nick Babinsky.

The agency’s advance notice of proposed rulemaking, which would require banks to evolve with technology, shows foresight that policymakers too often lack.

Credit unions have seen historic mortgage growth so far this year despite the pandemic, but there are concerns some institutions may be overly relying on refinancing and not focusing enough on generating new purchase business.

Even though a portion of retailers could rely on e-commerce to keep active during coronavirus shutdowns, reopening brick-and-mortar shops may be even harder amid new safety concerns.

The availability of some loans used to build homes dried up due to the coronavirus. Opening up the economy may help if it doesn't lead to a spike in infections, and if consumer demand persists.

Speaking during the CUSO's virtual Member Forum, PSCU CEO Chuck Fagan noted that some data shows the economy may be beginning to rebound from the coronavirus, but some sectors are still struggling.

The Fed chairman updated senators about the agency's new credit facility for midsize firms struggling in the pandemic. He also left open the possibility of additional stress tests to gauge the industry’s coronavirus response.

The coronavirus’ economic fallout has drawn more attention to buy-now-pay-later options, leading to fresh creativity in business models and marketing.

Shelter-in-place orders have given homeowners the time to pursue upgrades and repairs, and banks are seizing the opportunity to help finance the projects.

In one of the first comprehensive analyses of how the banking industry was affected by the onset of the coronavirus pandemic, the agency said quarterly income fell by nearly 70% from a year earlier.

U.S. retail sales jumped in May by the most on record and double forecasts, regaining more ground than expected after unprecedented drops the prior two months as states allowed more merchants to reopen.

The online lender quickly built an app for ride-share drivers with much of their information already filled in.

Giant U.S. banks still have to deliver a Brexit plan to get staff across the English Channel before a potential second wave of COVID-19 forces Europe's doors shut again.

Some of the industry’s biggest institutions intend to keep a significant portion of their staff working from home indefinitely. That’s raising new questions about organizational cultures and how to appropriately utilize credit union facilities.

In response to fraudsters seeking to capitalize on the COVID-19 influenced surge in e-commerce, Ekata has launched a new global digital ID verification tool to combat cybercrime.