News Topic: BankThink

The ongoing national conversation about race and social justice has increased calls for boards of directors that better reflect credit union membership. But any really change won't happen quickly. ... Read full article

Soybean, corn and wheat are trading at their highest levels since 2014, meaning farmers are more likely to catch up on loan payments and pursue expansions that require them to take out more loans. ... Read full article

Shared national credit balances rose 5% last year, and the percentage of at-risk loans nearly doubled. Regulators point out that banks have stashed away extra capital, but a lot will depend on the speed of the economic recovery and the performance of ... Read full article

Efforts to simplify business operations under incoming CEO Jane Fraser will cost a lot of money but will ultimately create a safer, more profitable company, Chief Financial Officer Mark Mason said. ... Read full article

The buy now/pay later pioneer's new card does not require sellers to opt in if they already accept debit cards. ... Read full article

Toronto-Dominion Bank said it will close 82 bank branches in the U.S. as part of a “store optimization” in its American unit, where net income dropped in the fiscal first quarter. ... Read full article

The CEO of Chase Consumer Banking and a member of JPMorgan’s leadership team, Thasunda Brown Duckett has been tapped to replace Roger Ferguson as CEO of the retirement services provider. ... Read full article

Dana DeFilippis will take the helm at the Chalfont, Pa.-based credit union next month. She succeeds retiring CEO David Whitehead. ... Read full article

The agency will allow an additional three months of forbearance for loans backed by Fannie Mae and Freddie Mac, giving homeowners up to 18 months to suspend payments due to the pandemic. ... Read full article

The Federal Reserve imposed the restrictions after conducting supplemental stress tests tied to the pandemic. But Vice Chair of Supervision Randal Quarles says it is now clear banks would have had sufficient capital regardless. ... Read full article

JPMorgan Chase is stepping up its search for acquisition targets as competition intensifies from financial technology firms and other new rivals. ... Read full article

Bank of America cut some of its staff in the global banking and markets division this week. The latest cuts mark an end to BofA's pledge not to eliminate any jobs in 2020 as the global pandemic flared. ... Read full article

The London bank is trying out new models that help it assess the creditworthiness of recent college graduates, and layering on software that analyzes the fairness of its credit decisions. ... Read full article

A new report from CUNA Mutual Group shows just how much COVID-19 and the economic slowdown impacted the credit union industry in 2020. ... Read full article

Early Warning's person-to-person payment network predicts that faster settlement through The Clearing House's Real Time Payments will enhance its appeal. ... Read full article

JPMorgan Chase is shutting its private banking business in Mexico, according to people with knowledge of the matter, as wealthy clients in some of Latin America’s largest economies move their money to international financial capitals. ... Read full article

The cause of the disruption is unknown, although the Treasury said it wasn’t a cyberattack; applications fell 11% after the average 30-year fixed-rate loan rose to 2.81%. ... Read full article

As the Consumer Financial Protection Bureau slowed its pursuit of bad actors, state attorneys general vowed to pick up the slack. Here’s why they fell short — and why they are poised to get aggressive again. ... Read full article