News Topic: BankThink

The president’s executive action looks to assess the impact of the previous administration's alterations to the Affirmatively Furthering Fair Housing and Disparate Impact rules, while reinforcing Biden’s vow to eliminate discriminatory lending ... Read full article

The Indiana-based credit union increased its starting pay for the second time in two years as part of a push to boost compensation that began in 2017. ... Read full article

The company is exploring a range of options to diversify its balance sheet, but new CEO Thomas Cangemi says the best plan of attack is to merge with or acquire another institution. ... Read full article

Bank of America scrapped a proposed bonus policy this week after it provoked the ire of high-earning traders and dealmakers, some of whom could have missed out on a big chunk of their compensation. ... Read full article

The credit union will provide a one-time stimulus check for all employees who worked through the COVID-19 crisis, similar to a recent move at Bank of America. ... Read full article

Banks and credit unions are partnering with fintechs like Zogo Finance and Flourish to recruit younger, more financially savvy customers with quizzes, rewards and other fun activities. ... Read full article

The Senate’s confirmation of Treasury Secretary Janet Yellen was notably bipartisan. But experts say congressional Republicans are poised to give nominees for the federal banking agencies heavier scrutiny. ... Read full article

The investment fund HoldCo Asset Management said the $900 million price tag of the agreement with SVB Financial Group “substantially undervalues” Boston Private Financial Holdings. ... Read full article

The bank will start with a mobile checking account for U.K. customers this year, followed by a full slate of products that could include credit cards, mortgages and car loans. ... Read full article

President Biden’s executive order requiring agencies to weigh the impact of pending policies on underserved groups could have a lasting effect on issues from reforming the Community Reinvestment Act to fair lending. ... Read full article

The banks are publicly committing to interview more minorities for top positions; the agency says automated compliance checks are preventing lenders from approving loan applications. ... Read full article

Capital One Financial is the latest credit card issuer to release loss reserves because its loans have performed better than expected during the pandemic ... Read full article

Todd Harper, a Democrat, says he will continue his efforts to increase the agency's consumer advocacy role, despite opposition from the industry and two Republican board members. ... Read full article

A tax that banks successfully opposed throughout the Obama administration was endorsed by the president on the campaign trail and is supported by many prominent Democrats in Congress as a means of funding government spending. ... Read full article

Bankers including Mary Erdoes of JPMorgan Chase and Barclays CEO Jes Staley say working from home is at risk of not working anymore. ... Read full article

The Georgia company increased its target for annual expense cuts and new revenue to $175 million from $100 million. But executives warned that low interest rates and weaker mortgage volume, along with a need to invest in technology, will delay some of the ... Read full article

Intensifying competition from banks could persuade large credit unions — particularly those with more than $1 billion of assets — to join forces in 2021. ... Read full article

“The economy keeps moving forward and we feel very constructive about the consumer activity,” Brian Moynihan said. ... Read full article