News Topic: BankThink

The expected nomination of Michael S. Barr has disappointed many progressives; the Morgan Stanley boss got a 22% raise to $33 million, while JPMorgan CEO held steady at $31.5 million. ... Read full article

Under a proposed rule change, credit unions would no longer need to seek pre-approval from the regulator before entering into interest rate swaps, speeding up transactions for some of the industry’s biggest institutions that already hold over 80% of total ... Read full article

Mergers and acquisitions were largely on ice in 2020, but banks' mounting need to control expenses and invest heavily in technology could spur a comeback this year. ... Read full article

Deposits are soaring while loan demand lags and mortgage-backed securities offer weak returns. So the Alabama company has parked loads of cash at the Fed in hopes the economy will pick up steam before profit margins suffer. ... Read full article

The Columbus, Ohio, company plans to close nearly 200 branches in the state — including more than 90 in Meijer grocery stores — after it acquires TCF Financial. It also intends to significantly boost its technology spending to improve its digital ... Read full article

U.S. Bank accelerates branch closings as more customers go digital; Capital One fined $290M for 'willful' anti-money-laundering failures; incoming Citi CEO Fraser signals major changes ahead; and more from this week's most-read stories. ... Read full article

Pandemic-induced shifts in how people work and bank will allow the Tennessee company to shed more branches and office space. It now projects it will slash expenses by an additional $30 million a year. ... Read full article

The digital bank for students, which recently merged with a blank-check company, can tap its new source of capital to diversify and pursue more white-label partnerships. ... Read full article

President Biden and Democrats in Congress have backed plans to subject a broader array of companies to Community Reinvestment Act requirements. But there’s no guarantee such reforms will happen. ... Read full article

The auto finance company, which had stumbled in forays into the credit card business, is now seeing rapid growth in mortgage and unsecured consumer lending. ... Read full article

U.S. credit card delinquencies reached record-low levels in 2020, as Americans took advantage of stimulus checks and adjusted their spending habits, according to a new report. ... Read full article

A recent agreement with the California Cannabis Industry Association will make it easier for legal cannabis businesses across the state to join the $92 million-asset credit union. ... Read full article

The Eugene-based institution joined a small but growing number of credit unions that have raised their entry-level pay in recent years. ... Read full article

The upstate New York company unloaded three loans, joining a short list of lenders that have purged problematic credits during the pandemic. ... Read full article

It would force national banks to make loans to high-risk industries that often pose dangers to vulnerable communities. The next comptroller of the currency should instead promote equal credit availability for consumers who need it most. ... Read full article

The JPMorgan Chase CEO's total compensation went unchanged at $31.5 million for his work in 2020, a year in which a global pandemic roiled the economy and caused banks to set aside billions to cover future bad loans. ... Read full article

The Florida lender is the latest financial firm that said it has stopped working with former President Donald Trump. ... Read full article

Bank of America will give $750 to eligible staff who earn $100,000 or less annually, while higher-paid employees will receive a stock award, according to a memo to staff from CEO Brian Moynihan. ... Read full article