BankThink

Lawsuit against Plaid heightens focus on data privacy issues

07/13/20

A class action asserts that the data aggregator accesses more of consumers' bank account information than it needs and ultimately aims to sell the data to others. Plaid, which has agreed to be sold to Visa, denies the allegations.

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FDIC lacks adequate sexual harassment prevention, reporting system: IG

07/13/20

Even though fewer cases are reported among the agency's employees compared to the government average, the watchdog said the Federal Deposit Insurance Corp. should improve its anti-harassment training and other procedures.

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Consumers in Canada shun cash and bank branches on virus fears

07/13/20

Canadian consumers are changing their banking habits to reduce physical contact with others because of COVID-19, according to a new study by McKinsey & Co.

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Dodd-Frank at 10: How regulation has (and hasn't) changed since law's passage

07/13/20

Policymakers have eased some rules and the Supreme Court recently dealt a blow to the Consumer Financial Protection Bureau. But as the landmark legislation approaches its 10th anniversary, the post-crisis regulatory regime has stayed largely intact.

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Coronavirus crisis plays to the strengths of secured credit cards

07/13/20

With the COVID-19 health pandemic wreaking havoc on jobs, investments, consumer debt and lending, secured credit cards can address a vital need for people who may not have considered the product in the past.

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The reprieve on Libor won’t last forever. Lenders need to prepare.

07/13/20

Regulators can only delay the move to a new interest rate index alternative for so long.

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Fed's support for corporate debt has been a Wall Street bonanza

07/13/20

The Federal Reserve's extraordinary effort to keep credit flowing to companies during the COVID-19 pandemic is also shunting money to banks' bottom lines.

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PPP data errors raise questions about effectiveness of stimulus

07/13/20

A Bloomberg News analysis shows that the data for Paycheck Protection Program loans totaling more than $521 billion released on July 6 are riddled with anomalies.

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Q2 earnings week begins; Fed-Treasury spat delayed Main Street Lending Program

07/13/20

Wells is expected to report a loss while other banks report sharp declines in profits; Fed officials wanted easier terms, while Treasury officials preferred a more conservative approach.

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How banks aim to close racial wealth gap: More minorities in leadership

07/12/20

The pressure is on for banks to help Black and Hispanic households build net worth. Many say that starts with diversifying the ranks of middle and upper management.

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