BankThink

OCC enters new phase of CRA reform with scoring proposal

11/24/20

The plan still lacks concrete details about standards banks must meet to earn high ratings, but the agency said the new methodology would end grade inflation and could penalize banks that underperform.

[more]

This de novo wants to be the go-to bank for fintechs

11/24/20

CEO Wendy Cai-Lee says Piermont Bank can do it all for financial technology firms: be their commercial banker, be their banking-as-a-service provider and develop APIs and other cutting-edge products for them.

[more]

World Council of Credit Unions moves annual event online

11/24/20

The group is just the latest industry organization to already alter plans for a gathering scheduled for 2021.

[more]

Yellen at Treasury could resuscitate Fed’s loan programs

11/24/20

The Trump administration has compelled the Federal Reserve to shut down the Main Street Lending Program and other facilities that aid banks’ pandemic relief efforts, but President-elect Biden’s Treasury nominee could help turn the spigot back on.

[more]

JPMorgan fined $250 million for problems in advisory business

11/24/20

The Office of the Comptroller of the Currency says JPMorgan Chase’s fiduciary unit lacked sufficient controls to manage risk and avoid conflicts of interest.

[more]

Banks see billion-dollar cyber costs soaring even higher in 2021

11/24/20

Big banks and other financial firms predict the cost of warding off cybercriminals will keep climbing in 2021 as they work to secure digital financial services popularized by the pandemic.

[more]

How Scotiabank weeds ageism out of digital banking

11/24/20

Shawn Rose, chief digital officer, and Holly Pontisso, vice president of customer experience at Scotiabank at Toronto, share how they have adapted their digital offerings for people over 50, including making sure ageist attitudes don’t creep into digital channels or messaging.

[more]

Credit unions must learn to thrive amid radical uncertainty

11/24/20

Current economic conditions are greatly tied to controlling the spread of the coronavirus. To survive this volatile situation, financial institutions must be resilient.

[more]

Covid-19 transmission risk from using cash is low, study finds

11/24/20

The risk of catching Covid-19 through using banknotes is low, according to research by the Bank of England that suggests the aversion to using cash during the pandemic is unnecessary.

[more]

Biden to pick Yellen as Treasury secretary; Oportun joins bank wannabes

11/24/20

The former Fed chief would be the first person to hold the top three economic positions in government; lender Oportun Financial filed paperwork to start its own bank in California.

[more]