BankThink

Time for Congress to put an end to CECL

03/25/20

Policymakers should abolish the new accounting standard because it could distract banks at exactly the moment they need to be focused on pulling their communities from the brink of recession.

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Small-dollar loans highlight banks’ coronavirus relief efforts

03/25/20

Many banks are offering low-interest loans to help consumers and small businesses withstand the economic shocks of the pandemic. Some are also doing away with ATM, overdraft and late fees because, as one CEO put it, that revenue “is not the most important thing right now.”

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Coronavirus stimulus package: What do banks need to know?

03/25/20

Details of the $2 trillion deal were still fluid Wednesday, but lawmakers were closing in on a plan that would aim to put banks and consumers alike on stronger financial footing as they weather the coronavirus pandemic.

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Green Dot hires former NetSpend boss Dan Henry as new CEO

03/25/20

Former NetSpend CEO Dan Henry has been named as the CEO of Green Dot, the Pasadena, Calif.-based prepaid card issuer and banking company.

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Stop what you’re doing and help the Fed

03/25/20

Banks and credit unions should make it their top priority to pair with the central bank in distributing financial relief to small businesses, even if that means putting everything else on hold.

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Bank CRE losses expected to spike; digital payments boom

03/25/20

Losses on commercial real estate aren’t expected to be as bad as the 2008 crisis; as more cities announce shutdowns, consumers turn to online payments.

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Bank CIOs confront challenge of so many employees working at home

03/24/20

As companies move work off-site because of the pandemic, a host of issues have arisen around remote access, network monitoring and cybersecurity.

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New York banking regulator orders emergency relief on mortgages, card fees

03/24/20

The regulation issued late on Tuesday directs state-regulated financial institutions to give mortgage borrowers at least 90 days of forbearance if they can show financial hardship resulting from the coronavirus pandemic. It also requires banks and credit unions to provide relief on ATM fees and credit card late payment fees.

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Fed to suspend exams for banks under $100B

03/24/20

The central bank will prioritize monitoring and outreach while reducing examination activity due to the coronavirus pandemic until at least the end of April.

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Citigroup to close about 100 branches, cites declining foot traffic

03/24/20

It joins a growing list of banks temporarily shuttering branches as the novel coronavirus continues to spread across the country and more Americans stay home. Meanwhile, Citi and rival Wells Fargo became the latest banks to announce plans to pay bonuses to front-line employees.

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