Firms won’t have to repay their loans even if they don’t rehire all their laid off workers; Fed chair confirms the shortage is due to the coronavirus but is easing as the economy reopen.
A record amount of funds have flowed into banks since the coronavirus hit, but a low rate environment and tepid loan demand are complicating efforts to put that money to work.
The Supreme Court is poised to decide the fate of the Consumer Financial Protection Bureau's leadership structure, but the implications could reach far beyond the bureau.
At a congressional hearing, Fed Chairman Jerome Powell discussed steps to get the flow of coins to financial institutions back to pre-pandemic levels, as well as ways to ease other industry burdens.
Remitly and TransferWise are benefiting from consumers' shift to digital payments and a turn toward banking services as global remittance volumes drop.
Newly released documents highlight the challenges that Carrie Tolstedt and four co-defendants are likely to confront as they face civil charges involving sales misconduct at the bank.
