Economy

Financial services personnel were among critical infrastructure groups that the Department of Homeland Security said were crucial for “public health and safety as well as community well-being” during the pandemic.

The mobile-only bank offers many standard neobank features and some added payment options.

If the new accounting standard poses too many risks during an economic crisis, then it's probably not a good idea at all.

The Federal Housing Finance Agency authorized the government-sponsored enterprises to lend additional support to the mortgage-backed securities market and temporarily allow some flexibility in lending requirements to address coronavirus-related concerns.

The coronavirus is changing how consumers interact in branches and banking online. Bank leaders should be prepared.

The company's plan had drawn strong criticism from bankers about Rakuten's potentially controlling an industrial loan company while engaging in its nonfinancial businesses.

Organizers of Coastal Community Bank must raise $19.5 million before opening.

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

The most innovative fintech solution may be debit, which is already integrated into digital-first experiences in a way that’s fresh and exciting for the consumer, says Meta Financial Group's Matt Withey.

Refinancing activity is surging, existing borrowers are inquiring about loan modifications, loan closings are being delayed by more complex credit checks — and banks are short on people to handle it all.

Mark Calabria said Fannie Mae and Freddie Mac are currently equipped to handle elevated delinquencies, but they might need congressional or Federal Reserve help if fallout from the coronavirus persists.

Many new artificial intelligence and machine learning methods used for underwriting are not fully equipped to predict defaults.

In signing off on deposit insurance for the payments giant and student loan servicer, the FDIC sanctioned the first new industrial loan companies in over a decade.

Banks are avoiding the once booming hospitality business, or charging a premium for additional credit, as new data shows how big a hit hoteliers have taken from the pandemic.

Loans with favorable terms and gift certificates are among the solutions being promoted by companies like Kabbage and Honeycomb Credit.

Lenders are concerned that the coronavirus outbreak will increase vacancies and add to credit risk.

On the same day the Federal Deposit Insurance Corp. said it will soon rule on two applications, the agency also proposed benchmarks for all firms that want to own industrial loan companies.

RTP Global and HV Holtzbrinck Ventures led an €18.5 million ($20.3) Series B round in Penta, a Berlin-based small business bank.

There are several forbearance measures the agencies can take now to keep banks from failing in a downturn triggered by the coronavirus.

Many institutions said they would close branches, operate drive-throughs only, limit lobby visits to appointments or take other protective steps. Yet others want to stay open to promote public confidence in the banking system.