Giant U.S. banks still have to deliver a Brexit plan to get staff across the English Channel before a potential second wave of Covid-19 forces Europe's doors shut again.
In letters to administration officials and large banks, the lawmakers sought details about loan recipients following reports that financial institutions had favored their wealthiest clients.
New York State regulators may bring an enforcement action against the German bank as early as this month; Wells Fargo’s decision to stop making loans to the dealers has more to do with credit quality than asset limits.
Tyrie has advanced Bank of America’s virtual assistant Erica and rolled out easier-to-use digital products that resonate strongly with customers. Those achievements have earned him recognition as one of American Banker’s digital bankers of the year.
The funds will be used to support housing, job training and aid for small businesses in communities that have been disproportionately affected by the pandemic.
The Federal Reserve set up a liquidity facility to help banks meet demand for emergency small-business loans through the Paycheck Protection Program, but it's gone largely unused.
The agency is trying to get small lenders to help underserved businesses get the loans; although the British government is guaranteeing small business loans, banks are required to collect on delinquents.
The chiefs of some of the biggest U.S. banks called on their workers to fight racism after an unarmed black man died as a result of a white police officer kneeling on his neck, prompting nationwide protests.
