The Main Street Lending Program, announced on April 9 as an option to help U.S. businesses weather the coronavirus outbreak, will be available to a wider array of companies than previously planned.
Ever since people started sheltering at home to limit the spread of coronavirus, payments industry experts have wondered how this would affect the use of cash and cards.
Submissions total about $17.8 billion in requested funding for the second round of the Paycheck Protection Program, with an average loan size of $81,000.
A former economist says high-ranking officials engaged in “legally risky” behavior to downplay consumer harm; online payments and contactless transactions jumped in the first quarter, and some think the new habits will stick.
The industry dodged a bullet after the former vice president outlasted more progressive rivals for the Democratic presidential nomination. But some worry the presumptive nominee will have to consider calls for tougher regulation from his party's liberal wing.
Cybercrime has emerged as one of the biggest potential sources of risk to the financial system over the last 20 years, and cybersecurity is a paramount concern to bankers everywhere. But can the internet be made more secure?
The online lender has deployed new software designed to spot security risks early, especially the kind of cloud-data issues that led to the Capital One-Amazon breach.
Ally, Synchrony, Discover, Sallie Mae and Navient are the other lenders the ratings firm downgraded, citing the impact that the coronavirus crisis is having on their revenues and profits.
