Bank bill-payment sites have become less relevant over the last decade as more people go to billers’ websites to pay directly or use billers' mobile apps — often at the last minute. But the COVID-19 pandemic could flip the script on the $4.6 trillion bill-payment sector.

Federal Reserve Chair Jerome Powell said the lack of additional stimulus is creating "unnecessary hardship for households and businesses."

Bank bill-payment sites have become less relevant over the last decade as more people go to billers’ websites to pay directly or use billers' mobile apps — often at the last minute. But the COVID-19 pandemic could flip the script on the $4.6 trillion bill-payment sector.

The trends were already pushing new payment experiences, which now seem less futuristic, says VeriTran's Omar Arab.

The threat has been exacerbated during the pandemic, as shelter in place orders forced consumers inside and businesses to close their physical doors, while simultaneously opening online ones, says Sift's Kevin Lee.

The industry is warning regulators putting the finishing touches on the Net Stable Funding Ratio that the measure could exacerbate volatile market events like the spring selloff of Treasury securities.

The flood of liquidity that accompanied the pandemic recession isn’t likely to subside anytime soon. Banks will have to employ a mix of securities buying, hedging and other balance-sheet-management tricks to prop up margins longer than initially imagined.

Credit union groups continue to make ad buys for industry-supported candidates in advance of Nov. 3, but recent positive economic news could be short-lived.