News Topic: BankThink

A slower-than-expected rollout of the COVID-19 vaccines and the threat of social unrest after the Jan. 6 riot at the U.S. Capitol could threaten the recovery, according to an American Bankers Association panel. ... Read full article

The project will deploy $20 million as secondary capital to expand economic relief and financial inclusion, and follows a $1 million project last summer aimed at helping low-income consumers in Rust Belt cities. ... Read full article

Branch has been with WOCCU for 31 years, the last 10 of them spent as CEO. ... Read full article

Goldman Sachs will work with the digital-payments upstart Marqeta on offering checking accounts for Main Street consumers. ... Read full article

The deal is a sign of further consolidation among Twin Cities-area credit unions, following another combination announced in May. ... Read full article

The bank agreed to acquire A Mortgage Boutique, which operates in six states. ... Read full article

The Office of the Comptroller of the Currency finalized a rulemaking Thursday morning opposed by the industry that forces the largest banks to provide services to gun businesses and other sectors to which banks have curtailed lending. ... Read full article

The new global wealth division, which is being formed by combining the firm’s private bank with a unit that serves substantially less wealthy households, will be led by Citi veteran Jim O’Donnell. ... Read full article

The bank is combining its wealth management units to serve both the ultrarich and the less affluent; the small business loan program will open to all borrowers on Tuesday. ... Read full article

The online lender founded by Renaud Laplanche is now a full-fledged challenger bank that can offer generous checking terms because, it says, it can count on its loans for profits. ... Read full article

The Mississippi bank will pay $108 million for the parent of FNB Bank, which has branches in Alabama, Georgia and Tennessee. ... Read full article

Brian Brooks may be remembered as one of the most controversial interim regulatory chiefs in recent memory, taking positions on the pandemic response, fintechs’ banking ambitions and other issues that won him supporters and critics alike. ... Read full article

Robert Kafafian says he's hearing more MOE chatter now than at any time in his decades-long career as a consultant. He cited smaller banks' need to cut costs, improve tech offerings and compete with bigger lenders. ... Read full article

The online installment lender is the latest consumer-focused tech company to see its stock price soar on the first day of trading. ... Read full article

First Bank in New Jersey, Northeast Bank in Maine and others have warmed to the idea of using software to streamline Paycheck Protection Program lending so that employees can be more hands-on with customers. ... Read full article

U.S. economic activity increased modestly at the end of 2020 while hiring slowed amid resurgent infections and new restrictions, even as vaccinations got underway, the Federal Reserve said. ... Read full article

The nation's third-largest credit union saw a huge lending spike in 2020, especially in its mortgage division, while membership grew by 159%, thanks in part to merger activity. ... Read full article

In the pandemic age, banks are getting creative in a bid to keep affluent customers. ... Read full article