BankThink

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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Five lenders withdraw from U.K.'s coronavirus rescue plan

04/01/20

The firms say they can't handle crushing loan demand from small and medium-sized businesses.

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How fintech can save small businesses on the brink

04/01/20

Lenders and government guarantors can use loan technology to bring immediate relief to business owners, former OCC official Jo Ann Barefoot says.

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Banks may get boost from loan program; Trouble for mortgages not backed by U.S.

04/01/20

SBA loans could pour billions into bank coffers; Fed bailed out government-backed market, others may suffer.

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Does FSOC have a role to play in coronavirus response?

03/31/20

After budget cuts and a strategic transition, the interagency body conceived by Dodd-Frank to identify systemic threats has largely been silent as the pandemic roils the economy.

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