The report from the regulator offers an industry-wide look at how credit unions have fared during the pandemic. Since the outbreak worsened in April and into May, credit quality could possibly worsen while earnings may sag even further.

In spite of the pandemic, the Columbus, Ohio-based corporate credit union was able to return the funds to some owners on the strength of strong earnings through the firs two quarters.

Jelena McWilliams explains the agency's decision to enlist the help of tech innovators to modernize a reporting process that the coronavirus epidemic has exposed as outdated.

The so-called tech sprint involving 20 companies from across the country is intended to help improve the efficiency of banks' quarterly data submissions to the regulators.

With multiple business sectors reeling from the pandemic, banks are facing tighter net interest margins, provisioning more for losses and seeing their balance sheets expand, the agency said in a report.

The Philadelphia-based credit union crossed the $3 billion-asset threshold despite a drop in first-quarter earnings.

The outbreak has completely upended whatever expectations the industry had heading into 2020. Here's key areas that have been shaped by the pandemic, some potentially forever.

The bank joins rivals such as Deutsche Bank AG and UniCredit SpA in forging ahead with job cuts that were put on hold at the outset of the pandemic.

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.

The Michigan institution's asset base increased substantially in 2019 thanks to a merger but has continued to grow in 2020.

First-quarter income for credit unions chartered in the Badger State increased by about 6% from the same period one year earlier.

The regulator cited "unsafe and unsound practices" at the Georgia-based institution, which is the first credit union to be conserved this year.

Lenders are cautioning not only that second-quarter provisions might exceed the spike seen earlier this year, but also that credit costs could be elevated into 2021 if the economic slowdown drags on or fears of a second coronavirus wave are borne out.

In an effort to help the industry manage the economic downturn, some credit unions won't be required to submit plans to lower their retained earnings for the rest of this year.

Past is not prologue, and a successful strategy for becoming a top-performing bank in 2020 is very different from what it might have been just six months ago.

Thomas O'Brien will take the helm at Sterling Bancorp, which is dealing with internal control issues and probes by the OCC and Justice Department into its mortgage operations.

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

Royal Bank of Canada and Bank of Montreal joined their Canadian peers in setting aside record provisions for loan losses as they brace for the economic fallout from the coronavirus pandemic.

The Baltimore-area credit union crossed the latest threshold despite a dip in net income during the first quarter as many organizations struggle with the coronavirus fallout.

The central bank's Financial Stability Report said companies may face difficulties repaying debt given lower earnings, “which could trigger a sizable increase in firm defaults."