Federal Reserve

The coronavirus has accelerated a move toward a public option for digital wallets that would tie government authentication to payment transactions. If successful, this could be the catalyst for a national digital identity system.

The government should encourage community lenders to offer six-month loan repayment forbearances to struggling businesses before it’s too late.

More federal rescue moves are necessary for the nation’s largest mass transit system, according to the advocacy group Reinvent Albany.

The central bank is creating a facility to provide financing to banks participating in the Small Business Administration’s Paycheck Protection Program.

While some economists expect a V-shaped recovery, others say it will not be as sharp as the decline, and it could be years before output rises to pre-coronavirus levels.

Ginnie Mae and the FHA provided temporary liquidity relief for mortgage servicers bracing for higher delinquencies, but the industry continues to pressure Treasury and the Fed to provide more comprehensive support.

Regulators point to traditional financial institutions as well-positioned to meet short-term credit needs during the coronavirus pandemic, but there are still a host of questions about whether the industry should try to compete with high-cost lenders.

Lenders and government guarantors can use loan technology to bring immediate relief to business owners, former OCC official Jo Ann Barefoot says.

The regulation established standards for investors who own less than a quarter of an institution. Banks are getting more time for implementation as they focus on effects of the COVID-19 pandemic.

While experts predict rates will not stay at zero lower bound as long as after the financial crisis, they don’t see a hike for years.