BankThink

Fed eases bank leverage ratio; Kabbage cuts back

04/02/20

The one-year relief is intended to free up lending to consumers and businesses; the online small business lender not making loans, shrinks credit lines, staff.

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Capital One moves summer internships online in coronavirus response

04/02/20

About 1,000 interns were notified of the change this week. They will still receive the pay and housing funds outlined in their original offer letters.

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Congress mulls further coronavirus relief for consumers

04/01/20

If Capitol Hill plans another round of stimulus, Democrats could have more leverage to demand steps such as suspending overdraft fees or placing a temporary cap on consumer lending rates.

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Fed's conundrum: Whether to remove Wells Fargo's asset cap

04/01/20

Amid the coronavirus emergency, the central bank may have to decide at what point the imperatives of an economic crisis outweigh the requirements of its most severe enforcement action in recent memory.

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CFPB clarifies credit reporting procedures in light of coronavirus

04/01/20

The agency said lenders should avoid reporting delinquent payments to credit bureaus for consumers who have sought payment relief due to the pandemic.

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Bank of America lets 50,000 mortgage borrowers skip payments

04/01/20

Bank of America said it has agreed to allow 50,000 mortgage customers to defer payments for three months because they've lost income as a result of the pandemic.

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How the coronavirus response could transform SBA

04/01/20

The pandemic may force the Small Business Administration to rely more on fintechs and digital channels to hasten loan approvals, a shift that could stick.

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Microsoft will launch personal finance app with assist from Plaid

04/01/20

The app, set to roll out this month, will be offered to the 38 million Office 365 users and can connect via the data aggregator Plaid to all bank and card accounts.

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FHFA chief: Coronavirus-related delinquencies could outnumber subprime

04/01/20

Federal Housing Finance Agency Director Mark Calabria said a virus-induced financial crisis might give rise to more delinquencies and foreclosures than the 2007 subprime mortgage meltdown.

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Can banks help rescue country without undercutting themselves?

04/01/20

In supporting the economic recovery from the coronavirus pandemic, lenders have a chance to restore public trust damaged in the last financial crisis. But they face tough decisions on dividend cuts, executive pay, furloughs and deeper changes to their business model in the process.

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