News Topic: BankThink

The company did more than $20 billion in in-store volume last year at more than 600,000 merchants; the president is now considering using an executive order to erase the debts. ... Read full article

The onset of COVID-19 forced the industry’s largest trade group to put its Open Your Eyes campaign on hold, but nearly a full year later it’s still struggling for industry buy-in. ... Read full article

Banks weren't involved in the trading frenzy, but some observers say the regulatory response should address risks to all financial institutions. ... Read full article

To avoid taxes on the divestiture of a commercial lending unit, Woodforest National Bank backed an Alabama redevelopment project through a government program that promotes investment in underserved communities. ... Read full article

The enforcement action, which concerned deficiencies in the auto lender’s compliance risk management program, was the last remaining regulatory matter Santander had to resolve. ... Read full article

A Greek-led organized crime group that stole more than $14.4 million from U.S. banks has been dismantled in a cross-border operation by three international law enforcement agencies. ... Read full article

Credit unions are hoping for a return to normal credit card spending patterns sometime during the second half, but the pandemic has created a domino effect of complicating factors. ... Read full article

Steve Daines of Montana, Bill Hagerty of Tennessee and Cynthia Lummis of Wyoming are joining the panel for the 117th Congress. ... Read full article

Its success was driven by its support for buying and selling cryptocurrencies, and its entry into the buy now/pay later market. ... Read full article

Isabel Guzman wants the agency to better help minority businesses and underserved communities; volume has jumped by as much as 200% as consumers shop online and eschew credit cards. ... Read full article

After the agency pulled back on fair-lending enforcement in the Trump administration, interim Director Dave Uejio has made clear his intent to use the “disparate impact” standard to launch more anti-discrimination probes. ... Read full article

The decision comes after a decade in which several U.S.-based institutions elected to drop the words "credit union" from their branding. ... Read full article

Scott Ford is the new president of the 1,400-employeee wealth management unit that caters to affluent clientele of the Minneapolis company. ... Read full article

Community banks say Vizaline’s software, which converts property descriptions into images, helps them catch errors before they close real estate loans without resorting to expensive land surveys. But traditional surveyors say the results are of ... Read full article

Vast Bank in Oklahoma is one of the first to allow customers to purchase digital currencies, a market that has proved lucrative for fintechs. ... Read full article

A group led by Stephen Gordon has received conditional approval from the Federal Deposit Insurance Corp. to open Genesis Bank. ... Read full article

Only 18% of businesses that received a Paycheck Protection Program or other loan from an online lender were satisfied with customer service, while 42% said they were dissatisfied. Banks, credit unions and CDFIs fared better in the Federal Reserve survey. ... Read full article

The paucity of distressed-loan sales indicates that most bankers are confident about the underlying health of their portfolios even as the pandemic lingers and loss reserves remain elevated. ... Read full article