News Topic: BankThink

Big banks, Big Tech face off over interchange fees; majority of Paycheck Protection Program loans going to second-time borrowers; debate on the next OCC chief has glossed over flaws in the agency’s funding structure; and more from this week’s most-read ... Read full article

While its net income declined annually for the second consecutive year, CEO Hugh Frater touted Fannie Mae’s resiliency in a record year for providing mortgage liquidity. ... Read full article

Nineteen of the nation's largest banks must show how they'd withstand pressures in the commercial real estate and corporate debt markets that would accompany a severe global recession. ... Read full article

Banks have diverted resources from traditional Small Business Administration lending to make Paycheck Protection Program loans, but many are taking steps to rev up 7(a) and 504 lending once the PPP winds down. ... Read full article

As the bureau writes data-sharing rules, the third-party firms that work with fintechs say oversight by the agency would be more efficient — and better for consumers — than being policed by their bank partners. ... Read full article

The reduction currently under consideration by the Biden Administration would lead to even faster home price appreciation, especially in areas with moderate FHA presence, American Enterprise Institute’s Housing Director of Research Tobias Peter says. ... Read full article

A deal to merge with First General Credit Union in Norton Shores, Mich., will extend the Detroit-area institution's reach across the state. ... Read full article

PayPal Holdings Inc. is weighing a foray into stock trading and high-yield savings accounts as the firm pushes beyond its iconic checkout button. ... Read full article

The custodian said it will hold, transfer and issue cryptocurrencies on behalf of its asset management clients; some got caught up in the homebuying frenzy and now regret it. ... Read full article

The agreement with plaintiff MBIA Insurance resolves a lawsuit tied to the sale of mortgage-backed securities that plummeted in value during the 2008 financial crisis. ... Read full article

Mike Cagney’s blockchain lending startup Figure Technologies plans to raise $250 million through a new blank-check company, according to an SEC filing. ... Read full article

A plan to make expansion easier for credit unions is getting pushback not just from bankers, but also from the regulator's current chairman and a former board member. ... Read full article

Still under fire for financing oil-and-gas exploration, banks are now being criticized for bankrolling producers of the single-use bottles and wrappers that are piling up in landfills and waterways. How will they respond to the mounting pressure from ... Read full article

Transportation and clean-energy upgrades could create significant new lending opportunities, but some observers fear the government will foot the bill through a special tax on banks and other financial firms. ... Read full article

The global card brand is positioning itself to play a key role in the development of central bank digital currencies. ... Read full article

Opportunity Financial, which offers consumer installment loans in partnership with banks, is merging with FG New America Acquisition Corp., a special-purpose acquisition corporation. The deal is expected to close in the second quarter. ... Read full article

The trust bank and the credit card company said they'll make it easier for customers to use cryptocurrencies. The announcements contributed to another jump in the price of the largest digital asset. ... Read full article

Federal Reserve Chair Jerome Powell says he has nothing but affection for his work, suggesting that the 68-year-old central banker could be open to a second term if asked. ... Read full article