The novel coronavirus impact on the banking industry
The banking industry is central to the global economy's stability. Follow Banking Dive's coverage of the pandemic here.
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Banks need to push digital offerings during COVID-19 pandemic, experts say
By Anna Hrushka • March 18, 2020"As we saw in the last recession, if you take the pedal off, you can wake up in a couple of years and have a lot of fintechs nibbling away at your business," said John Stockamp, director in West Monroe's financial services practice. Read the full article ➔
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Regulators weigh easing more bank rules as markets stay jittery
By Robert Freedman • March 18, 2020A spate of initiatives, some released and some under consideration, are intended to keep credit flowing to businesses hard hit by the novel coronavirus outbreak. Read the full article ➔
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Banks tap Fed discount window to signal readiness on credit
By Robert Freedman • March 17, 2020The biggest U.S. banks have been cooperating with each other and with the Federal Reserve to show they'll keep people and companies liquid as the economy worsens. Read the full article ➔
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Goldman Sachs waives March payments for Apple Card users
By Kate Patrick Macri • March 17, 2020Apple and Goldman Sachs are continuing to allow payment deferrals in April, but Apple Card customers who took advantage of the March program must re-enroll, the tech giant said. Read the full article ➔
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Major US banks halt share buybacks in response to coronavirus pandemic
By Anna Hrushka • March 16, 2020The forum called the COVID-19 pandemic “an unprecedented challenge for the world and the global economy,” and said the U.S.’s largest banks have an “unquestioned ability and commitment” to support the nation. Read the full article ➔
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Markets drop despite Fed weekend rate cut on coronavirus
By Robert Freedman • March 16, 2020Stock trading had to be halted for the third time in recent weeks as pessimism over the government's coronavirus response overshadowed the Federal Reserve's latest monetary move. Read the full article ➔
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Report: House scales back coronavirus leave bill, sends revisions to Senate
By Kate Tornone • March 14, 2020The bill also would temporarily amend the FMLA, creating protections for leave related to the new coronavirus for some employees. Read the full article ➔
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Fed injects $1.5T into Wall Street as regulators, lawmakers respond to coronavirus
By Anna Hrushka • March 13, 2020Some analysts welcomed the move, but said a fiscal stimulus from Congress is also needed. Read the full article ➔
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Coronavirus could hit fintechs hard as card transactions drop
By Robert Freedman • March 4, 2020Fintechs’ reliance on the fees merchants pay when consumers make credit and debit purchases will be tested as people stay home. Read the full article ➔
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Fed announces rate cut as US banks respond to coronavirus threat
By Anna Hrushka • March 2, 2020As regulators convene to discuss COVID-19's economic impact, U.S. banks are implementing precautions such as travel restrictions and virtual events. Read the full article ➔
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COVID-19: Steps to prepare a remote work policy
By Katie Clarey • March 4, 2020A successful remote work plan will unite technology with norms and expectations, one source said. Read the full article ➔