Three weeks after the Financial Crimes Enforcement Network (FinCEN) issued guidance to financial institutions (FIs) on COVID-19, the division of the U.S. Department of the Treasury is reminding lenders to be on the lookout for fraud as the coronavirus grips the nation. Get the Full...
Inditex, the owner of brands such as Massimo Dutti and Zara, is having its clothing manufacturing facilities in Spain produce medical supplies, while its logistics hub has almost arrived at a stop, Reuters reported. The firm said it had shuttered 3,785 retail shops around the globe...
Florida-based FinTech FIS is helping lenders provide Small Business Administration (SBA) loans under the coronavirus stimulus package, the company announced Friday (April 3). Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins...
To let diners assist their favorite eateries amid the COVID-19 pandemic, Uber Eats is putting an in-app donate button into place. The food delivery company also intends to match each contribution to the Restaurant Employee Relief Fund for a maximum of $3 million, with another $2 million...
In a social media post, U.S. Treasury Secretary Steven Mnuchin said community banks have helped process many of the small business Paycheck Protection Program (PPP) loans. The relief is meant to support the economy during the worldwide COVID-19 pandemic, CNBC reported. Get the Full Story...
Not content with the $2 trillion in coronavirus relief Congress passed last week, House Speaker Nancy Pelosi (D-Calif.) wants more small business loan funding, additional direct payments to individuals and an extension of enhanced unemployment insurance, CNBC reported. Get the Full Story Complete the form...
It is impossible at this point to write the week in payments (commerce, financial services and technology) without writing about COVID-19. As the United States ends its third week on lockdown and the whole world races to respond to the ongoing epidemic, there is almost no news...
In response to the coronavirus crisis, Japan will provide households with $2,768 as part of its record-setting stimulus package. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe...
Bank of America has reportedly become the first large bank to be able to take digital applications for the $350 billion small business loan program that is part of the government’s coronavirus relief package. The financial institution’s portal went online at approximately 9 a.m. Eastern...
