The coronavirus has highlighted the issue of millions of Americans lacking access to high-speed internet at their homes. Financial services firms weren't spared from this challenge.
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Danny Varnon will serve as the next CEO of the Alabama-based institution after Monte Hill retires in January.July 7
The agency delivered long-anticipated regulatory relief to the small-dollar loan industry by eliminating ability-to-repay requirements imposed under the bureau’s former director.July 7
Some financial institutions are using emotion AI, which picks up subtle signals over text, audio and video, to help their customer service agents do their jobs better.July 7
Rancor between Democrats and Republicans has made it hard to enact subsequent bills. But the 2018 reg relief package and more recent legislation offer hope for efforts to reach across the aisle.July 6
PresidentCredit Union Leasing of AmericaJuly 2
President and CEOCredit Union National AssociationJune 30
Executive Vice PresidentNational Association of Federally-Insured Credit UnionsJune 25
The agency has freed companies from reporting requirements and provided flexibility on exams to help them deal with COVID-19 fallout. It has also finished other regulatory relief efforts that were in the pipeline before the pandemic hit.
Democrats’ latest proposal to back debt collectors, enable loans for nonprofits and provide other relief could help steer negotiations with the Senate on more stimulus.
The central bank’s programs announced since mid-April in response to the coronavirus outbreak match if not exceed the actions it took during the 2007-9 financial crisis.