News Topic: BankThink

The challenger bank will apply some of the $40 million it raised from Truist, BofA and others to a microloan program aimed at Black and Hispanic groups. It also plans to offer a debit card through community development financial institutions and minority ... Read full article

Democrats have proposed a Congressional Review Act resolution to strike down the OCC rule, arguing it enables "rent-a-bank" schemes. ]] ... Read full article

Former Obama-era regulators Kara Stein and Sarah Bloom Raskin, as well as Atlanta Fed President Raphael Bostic, have joined the field of potential nominees to lead the Office of the Comptroller of the Currency, according to sources familiar with the ... Read full article

The Rainforest Action Network says the 2020 decline stemmed more from weak energy demand during the pandemic than banks’ pledge to reduce financing to firms that contribute to climate change. ]] ... Read full article

Lawmakers approved a bill that will allow the Paycheck Protection Program to remain open until May 31. It was originally set to expire on March 31. ]] ... Read full article

For banks that pass this year’s stress tests, the Federal Reserve said it will eliminate the restrictions on dividends and share buybacks while subjecting those institutions instead to the stress capital buffer. ]] ... Read full article

The Dunedin, Fla.-based institution reported an 18.8% surge in assets last year, along with substantial growth in commercial lending, thanks in part to the Paycheck Protection Program. ]] ... Read full article

A planned combination of Maine State Credit Union in Augusta and Midcoast Federal Credit Union in Freeport has been nixed despite receiving approval from regulators. ]] ... Read full article

Greenwood, a digital banking platform aimed at Black and Latino customers, raised $40 million in funding from some of the biggest U.S. lenders and payments companies. ]] ... Read full article

The cap on Economic Injury Disaster Loans is being raised to $500,000 from $150,000; the electric car maker said it won’t convert the digital currency to fiat dollars but will retain them. ]] ... Read full article

The tennis legend will also serve as a strategic adviser on gender equality issues and First Women's Bank, which will be mostly owned and run by women. ]] ... Read full article

Treasury Secretary Janet Yellen said she prefers to have the Financial Stability Oversight Council flag hazardous activities by nonbanks rather than subject specific firms to heightened supervision. ]] ... Read full article

Complaints to the Consumer Financial Protection Bureau jumped 54% to 542,300 in 2020. Concerns about credit reports have long outnumbered those in other categories and jumped significantly as a share of the total from 2019. ]] ... Read full article

Capital One Financial led a $170 million investment in the startup Hopper as the financial giant seeks to make a deeper push into travel. ]] ... Read full article

Banks ditched radio ads, direct mail and sports sponsorships and instead produced spots for social media, video games and streaming services, all while adjusting their messages to feel more relevant to the times. Now, with coronavirus cases declining, ... Read full article

Four months into the job, Charles Shaffer has struck a deal for Legacy Bank of Florida and is eyeing more acquisitions. His predecessor, Dennis Hudson III, built Seacoast with more than a dozen buyouts across the Sunshine State. ]] ... Read full article

The Arlington-based institution made gains across several metrics in 2020, including loan growth of 22%, driven in part by the mortgage refi boom. ]] ... Read full article

David Murphy, the credit union's vice president of risk and finance, will succeed Carol Adler, who is retiring. ]] ... Read full article