Economic news

As lawmakers scramble to enact coronavirus relief legislation, some industry groups have suggested Americans could be in for “one of the greatest economic disruptions since the Great Depression.”

The Fed must set up a "family financial facility" that sends billions to households and small businesses so banks don’t misdirect relief funds.

Over the next few weeks, U.S. businesses with online platforms might be tempted to relax fraud controls to free up potential friction – they shouldn’t. It could mean major fraud hits.

The Fed cuts rates near zero and will buy $700 billion in Treasuries and mortgage bonds; big banks put off stock buybacks until July at the earliest.

Cash use will suffer because of this outbreak, and there are factors other than germs contributing to this trend. A growing work-from-home workforce will funnel more shoppers into digital channels, including ones they may have never tried before.

The central bank has been under increasing pressure to act as investors have been losing faith in the Trump administration's efforts to contain the economic fallout.

The increase in quarantined customers has forced food delivery companies to balance a potential boom in orders alongside the risk of spreading sickness to both customers and drivers.

The Amazon effect in financial services will be much bigger than the one experienced by the retail industry—it will have a deeper impact due to the financial services industry being bigger and more vulnerable, and because consumers are now more comfortable with change, says TigerGraph's Todd Blaschka.

Digital financial technology provider Wirecard AG is partnering with Grab to process transactions from the GrabPay e-wallet in Malaysia, the Philippines and Singapore.

Grab Holdings Inc. closed offices in Singapore and Thailand for five days of cleaning after a Singapore-based employee, who previously visited the Bangkok office, tested positive for the coronavirus.

Companies that give employees early access to earned pay don't want to be lumped in with payday lenders, so they are putting a new spin on their pitch: It's a tool to lure and retain valuable workers.

Fed makes emergency cut, JPMorgan tests contingency plan; the justices appeared divided on whether to give the president power to fire the agency’s director.

In announcing the central bank’s emergency rate cut, Chairman Jerome Powell warned that the Fed can only do so much.

The Federal Reserve has voted unanimously to cut the interest rate 50 basis points to 1.10% effective March 4, in the first emergency rate cut since 2008.

Something as simple as the sale of cheese can show how fear instantly affects the economy, disrupting trade and the transaction fees that processors rely on.

Policymakers could recommend banks establish backup facilities and the Federal Reserve could stand ready with emergency loans to limit economic shock waves.

The bank agreed to pay $35 million to settle SEC charges it recommended high-risk ETFs to some customers; coronavirus fears continue to batter financial shares.

Immediate payments through an existing payments platform means firms can pay quickly, satisfying the expectations of gig workers who are increasingly important to the company’s functions.

Officials from 10 midsize American banks said U.S. regulators' preferred index for replacing the maligned Libor benchmark is ill-suited for them.

Sens. Pat Toomey of Pennsylvania and Richard Shelby of Alabama had been among a handful of Republicans who had expressed uneasiness with Judy Shelton's views on monetary policy.