BankThink

How Nova Credit caught the eye — and dollars — of A-listers

02/12/20

The fintech, which translates foreign credit reports to help immigrants get loans, says it has raised millions from venture capital firms and celebrities like Alex Rodriguez and U2's The Edge because its product addresses important economic and social needs.

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Fed’s Powell open to more than one Libor alternative

02/12/20

Federal Reserve Chairman Jerome Powell told senators that the central bank is willing to explore a credit-sensitive interest benchmark in addition to the secured overnight financing rate, which some banks say could cause problems during economic stress.

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Refinance mortgage applications reach highest level since 2013

02/12/20

Refinance application activity last week was the highest in nearly seven years, with more than triple the volume from one year ago, according to the Mortgage Bankers Association.

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PNC ordered to pay ex-employee $2.4M in sexual harassment case

02/12/20

A New Jersey jury has put banks and other businesses on notice about their liability for incidents involving clients who mistreat employees in the workplace.

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Broadway Financial in California pressed to sell by Sugarman-led group

02/12/20

Capital Corps, founded by former Banc of California CEO Steven Sugarman, wants the minority-run Broadway sold to a buyer that serves low- and moderate-income borrowers.

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Use CRA to promote college savings

02/12/20

Proposed reforms to the Community Reinvestment Act focus on everything but bank products that promote higher education. It’s time to change that.

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Scharf overhauls Wells Fargo’s structure; CECL could be a boon for banks

02/12/20

Bank will have more business lines, all reporting to the CEO; a research paper says the accounting rule could result in eased capital rules.

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Leveraged loans take center stage in upcoming stress tests

02/11/20

Regulators are alarmed about banks' rising exposure to high-risk corporate credits and want more data on how they would perform in a recession.

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6 statehouse issues on bankers’ radar

02/11/20

Bankers groups are keeping close tabs on a host of legislative and gubernatorial proposals, from prize-linked savings accounts in Iowa to rent control in Massachusetts to a slew of bills modeled after California's recently passed data privacy law.

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Heartland to double size of western Texas operations with AimBank acquisition

02/11/20

The Iowa company will pay $280 million to gain 25 branches and $1.2 billion in loans.

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