Financial institutions like Ally Financial, Clinton Savings Bank and First National Bank of Omaha are recruiting personal finance experts, college students and local personalities to promote their products and services.
Payment rates for auto lenders and credit card issuers have remained strong despite a spike in unemployment. Whether these trends continue into 2021 will depend largely on the actions of Congress and the pace of medical advances.
The digital bank is on a larger mission to attract younger customers. It's inserting itself into the popular video game in the hope that game players will learn about its products and have fun at the same time.
The agency overreached in its proposal to revamp the Community Reinvestment Act when it should have simply required branchless banks to invest more in areas where deposits are taken.
The auto lender says consumers’ skittishness about flying and using public transit during the pandemic has fueled a surge in demand for new and used cars. But executives remain wary of high unemployment and the potential for a rise in loan defaults.
The Detroit company will provide grants over the next three years to promote homeownership and help small businesseses struggling to recover from the pandemic and civil unrest.
Ally, Synchrony, Discover, Sallie Mae and Navient are the other lenders the ratings firm downgraded, citing the impact that the coronavirus crisis is having on their revenues and profits.
