Businesses hitting credit lines; Coronavirus could put banks in the red


Corporations have tapped more than $124 billion in lines in the past three weeks; rating agency says virus “could wipe out a full year of U.S. banking profits.”


Fed announces aggressive actions to boost liquidity amid virus turmoil


The Federal Reserve committed Monday to conducting more asset purchases of Treasury securities and mortgage-backed securities and announced $300 billion in new financing for credit facilities.


Fed again moves to calm markets; Dimon out of hospital


The central bank will inject $1.5 trillion into the money market, including buying more longer-term bonds; JPMorgan says its CEO “is doing very well” as he recovers from heart surgery.


Credit reporting bill passes House but faces long odds in Senate


No Republicans voted for the package of bills intended to overhaul the credit reporting system, casting doubt on its chances in the GOP-controlled Senate.


Comerica names new chief credit officer in latest management shake-up


The promotion of Melinda Chausse was one of several leadership changes the Dallas company announced this month.


Machine learning’s promises, pitfalls


Testing shows an overreliance on machine learning data can unfairly harm credit scores.


Why small businesses need regulators' proposed 'Madden' fix


Bank regulators are considering a bypass to the 2015 court ruling governing loan sales that would ultimately offer more credit options to entrepreneurs.


Viral tweet accusing Apple Card of sexism leads to regulatory probe


The New York Department of Financial Services is opening a probe into Goldman Sachs' credit card practices after a viral tweet from a tech entrepreneur alleged gender discrimination in the new Apple Card's algorithms.


Challenger banks insist they’re equal to the task of lending


MoneyLion and Varo say familiarity with existing customers — whom they already offer savings, investment and personal finance products — will help them make smart credit decisions.


Online lenders make case for cash-flow data while acknowledging pitfalls


Though the use of alternative data in lending is seen by some as untested, several fintechs say they couldn't function without it.