COVID-19

The New York bank, which is conducting a search for its next leader, also said it expects to report strong third-quarter earnings.

The Federal Reserve will continue its ban on share repurchases for banks with more than $100 billion of assets into the fourth quarter and will cap dividend payments using a formula based on recent income.

Banks are augmenting their use of masks, distance markers and the like with apps to notify employees of exposure to infected individuals and technology meant to make branch visits safer.

The agency’s insurance fund dipped below its statutory minimum last quarter thanks to the rapid rise in deposits, but officials say it should bounce back without a hike in premiums.

The pandemic has changed Americans’ tolerance for germ-laden cash transactions. Aaron Klein, the Economic Studies Policy Director at the Brookings Institution is worried about how the latest stride toward a cashless society is impacting lower-income communities.

The travel industry was hit extremely hard by the coronavirus pandemic. WEX, a payments processing and financial technology solutions organization with offerings for corporate travelers, felt the shockwave first hand.

With continued economic instability as a result of the coronavirus, how will the US manage the uncertainty that appears to have no end in sight.