News Topic: BankThink

Large banks that counted on airline and hospitality points to drive loan growth in the credit card business are anticipating renewed demand once safety concerns subside. But they’re also cautioning that the recovery in travel spending is likely to be ... Read full article

Legacy contracts using the London interbank offered rate — which is set to be phased out at the end of this year — were granted a reprieve to mid-2023. However, there is no wiggle room on when the rate will expire for new deals, said Federal Reserve Vice ... Read full article

Banc of California, which last bought a bank in 2013, has agreed to pay $235 million in stock in this in-state deal. ]] ... Read full article

The 14 lenders that dominate U.S. credit cards slashed $99 billion from their customers’ spending limits in 2020, mostly affecting financially troubled households. ]] ... Read full article

The depositor-owned banks are discouraged from participating in the Emergency Capital Investment Program because they can't issue preferred stock to back loans for underserved communities. It's another reason to overhaul their capital rules, ... Read full article

Democratic leaders are encouraging the Federal Reserve to develop its own digital currency to expand financial services access. Chair Jerome Powell indicated the central bank plans to take a methodical approach. ]] ... Read full article

Timothy Collia will step down from the Portsmouth, N.H.-based institution later this year. A search for his successor is already underway. ]] ... Read full article

The fintech, which has applied for a California banking license and federal deposit insurance, aims to become a full-service online bank for 1 million Americans by year-end, says Ron Oliveira, its U.S. chief executive. ]] ... Read full article

Early in the pandemic, Michigan's Astera Credit Union realized that if it could not support touchless transactions, its members were likely to go elsewhere. ]] ... Read full article

The Secured Overnight Financing Rate stemmed from years of discussion between regulators and a broad group of industry stakeholders about a safer alternative to Libor. Critics who say big-bank control of the new benchmark exacerbates risk are wrong. ]] ... Read full article

NCUA Chairman Todd Harper has reiterated his call for CUs not to garnish members' econimic impact payments, while the industry's largest PAC has resumed campaign contributions after a brief pause. ]] ... Read full article

Banks, credit card companies and digital payments processors are nervously watching the push to create an electronic alternative to the paper bills Americans carry in their wallets, or what some call a digital dollar and others call a Fedcoin. ]] ... Read full article

Changes to CDFI Fund regulations could make it significantly easier to raise the capital required to get a new institution off the ground. ]] ... Read full article

While the Fed decided not to extend capital easing for banks, it is working on a longer-term fix for calculating banks’ supplementary leverage ratio; the agency is looking at whether the company’s debit card policies for merchants are anticompetitive. ]] ... Read full article

Twelve months after the public health emergency began, executives say it forced them to reexamine where employees work, retail strategies, office layouts and more. ]] ... Read full article

Fees from forgiven Paycheck Protection Program loans are providing a short-term lift, but balance sheets are shrinking and it isn't clear what will drive future growth. ]] ... Read full article

The Treasury Department and U.S. regulators aim to boost demand for assets that tackle climate change, while preventing companies from making claims that could be considered “greenwashing,” or overstating the significance of emissions reductions and ... Read full article

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