Banks would be wise to dust off their Great Recession playbook and shed nonperforming loans while growing through M&A.
The head of the U.S. central bank said its emergency credit programs were not designed to prop businesses up over the long term.
The Ohio Democrat's criticism of Rodney Hood, chairman of the National Credit Union Administration, echoed complaints from bankers that the regulator was using the chaos from the pandemic to push through changes.
The Term Asset-Backed Securities Loan Facility is just one example of a fund that could be retooled.
Coronavirus has taken a massive toll on suppliers, and emerging invoice methods are getting thrust into the mainstream to rescue cash-strapped businesses.
When Fiserv purchased First Data in 2019, it was part of an industrywide push to combine bank and merchant technology under one roof. A year later, a key piece of First Data’s technology — and its top executive — have become Fiserv’s path through the coronavirus crisis.
When the coronavirus pandemic began, Square pushed hard to get a bigger share of merchants' online sales and consumers' stimulus spending — and even received its long-desired bank license — but found that this wasn't enough to offset the effects of the crisis.
Despite PayPal's efforts to get people to receive — and spend — their stimulus checks from PayPal accounts, the coronavirus pandemic caused its revenue for the first quarter to come in below company guidance.
The privately held firm recruited more than 160 reps in the first quarter on the strength of its balance sheet, CEO Amy Webber says.
CEO Dan Arnold says the pandemic “will create some structural change across the market and the industry.”