From student-run branches to courses on credit, budgeting and more, one of the industry's longest-running partnerships is being upended as districts across the country move to virtual learning.

Trade groups are still pushing for the industry's priorities, such as temporarily lifting the member business lending cap, as negotiations over the next round of aid continue.

Schools are still figuring out how they will open this fall, with some districts providing online education while others try a hybrid approach of online and in-person instruction. This complicated structure also upends how schools handle fees and payments.

A handful of credit unions have embarked on co-location strategies, sharing branch space with coffee shops and other businesses, but the social distancing era may force some institutions to rethink those plans.

Credit card balances declined most sharply as consumers cut back their spending due to the coronavirus pandemic and associated shutdown orders, the New York Fed said Thursday. But delinquencies also fell across all debt categories, thanks to government and lender relief efforts.

A survey of companies that received funding from the Paycheck Protection Program also showed that respondents on average have cut their payroll costs by more than half.

The agency said property owners can enter into new or modified forbearance plans if they have a hardship due to the coronavirus, but the landlords must agree not to kick out renters solely for nonpayment of rent.

A new report from Access Softek showed at least one in five members are likely to reduce their branch visits once the pandemic ends, though the risk of consumers leaving their credit union entirely may have declined.

Consumers are reluctant to take on additional debt in the wake of the coronavirus, cutting into credit unions' revenue streams. That could spur more institutions to roll out rewards programs to promote debit card usage.

Over 90% of loans from CUs in the Empire State are eligible for forgiveness using the $150,000 threshold.

The Senate Banking Committee will vote this week on Kyle Hauptman's nomination to the NCUA board while the full chamber continues to debate additional coronavirus relief measures.

Some professionals have admitted to sleeping or drinking while working from home. Technology could help financial services firms ensure employee productivity doesn't slip.

The measure would release $2 million in funding for the U.S. Postal Service to launch pilot programs to provide basic services such as checking accounts and bill payment.

The financial services industry urged Gov. Tom Wolf to reconsider guidelines that excluded their employees from receiving this benefit.

Members of the Senate Banking Committee took the agency’s leader to task for eliminating underwriting requirements for small-dollar lenders, which lawmakers said has left consumers more vulnerable during the pandemic.

The enhanced jobless benefits in the coronavirus relief law enacted in March helped limit delinquencies and maintain consumer spending, analysts say. In their follow-up stimulus plan, Senate Republicans want to cut those benefits from $600 to $200 a week.

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 closure of IBEW Local Union 712 Federal Credit Union marks the first CU to shut its doors in the wake of the coronavirus.