News Topic: BankThink

The Connecticut company said it will take several years to shut down the locations, which are located in Stop & Shop stores. About 80% of the branches are within five miles of traditional locations. ... Read full article

The bank's nonaccrual loans have been soaring as the pandemic continues to roil the hospitality sector. M&T executives said they've been working with borrowers to keep them out of foreclosure. ... Read full article

The Green Bay, Wisc., company will consider both inside and outside candidates to replace Flynn, who plans to step by the end of the year. ... Read full article

Citigroup, one of the few companies to offer a frank assessment of the difference in wages it pays to men and women, has made gradual progress toward narrowing that gap. ... Read full article

Greg Carmichael said lightly regulated challenger banks pose a long-term threat to traditional banks, echoing comments JPMorgan Chase’s Jamie Dimon made last week. ... Read full article

The Cleveland company will launch the service in March to broaden relationships its Laurel Road student loan refinancing unit has built with health care professionals. ... Read full article

Sandy Spring Bancorp also plans to shrink its network as more customers move to digital channels. ... Read full article

Liang, a senior fellow at the Brookings Institution, would take a position that has been vacant since 2014. ... Read full article

Consumers have largely kept up with their payments during the pandemic, but Discover chief Roger Hochschild says he expects defaults to rise as structural changes in the economy lead to more layoffs of white-collar workers. ... Read full article

Southern Bancorp, which recently raised $35 million in capital, agreed to acquire DeWitt First Bankshares, the parent of Arkansas County Bank. ... Read full article

Michael Barr helped write the 2010 Dodd-Frank Act while serving under Treasury Secretary Timothy Geithner. ... Read full article

Dave Uejio, who served as chief of staff to ex-Director Richard Cordray, was named by the Biden administration to lead the Consumer Financial Protection Bureau until the Senate confirms Rohit Chopra for the permanent job. ... Read full article

The investments, part of a post-merger effort to wring out more profits, include new commercial and mortgage lending platforms. ... Read full article

A bill updating the commonwealth's credit union act, signed into law on Jan. 12, is said to be the most comprehensive update of the state charter in 30 years. ... Read full article

The fast-growing buy now/pay later industry is drawing scrutiny from legislators and regulators who fear it could become predatory. ... Read full article

The Wall Street bank’s 51% jump in net income caps a strong earnings season for the biggest banks; President Biden is expected to nominate Michael Barr, a former assistant treasury secretary who helped write the 2010 Dodd-Frank Act, as comptroller. ... Read full article

The administration faces a slew of immediate financial policy tasks, such as passing a new round of small-business aid, charting a course for Fannie Mae and Freddie Mac and filling vacant agency leadership posts. ... Read full article

Citigroup will reduce bonuses for dozens of its top executives after the bank was reprimanded by regulators last year. ... Read full article