News Topic: BankThink

The Internal Revenue Service will allow businesses that got their Paycheck Protection Program loans forgiven to write off expenses paid for with that money, shifting policy after Congress passed new legislation last month. ... Read full article

GO2bank marks the latest effort by the prepaid card issuer and banking-as-a-service provider to deliver more traditional banking products directly to consumers. Its mobile-first account offers cash back, overdraft protection and a secured credit card to ... Read full article

The North Carolina regional has sold an advisory business and has found buyers for two 401(k) bookkeeping operations. ... Read full article

The Office of the Comptroller of the Currency’s proposal to ensure banking services are available to polarizing businesses contradicts long-standing guidance on managing reputational risk, big banks argue. But gun makers, energy firms and others say it ... Read full article

Acting Comptroller of the Currency Brian Brooks pushed back on a recommendation from a task force — appointed by Consumer Financial Protection Bureau — suggesting that Congress should give the CFPB the authority to charter and regulate fintechs. ... Read full article

The North Carolina regional has sold an advisory business and has found buyers for two 401(k) bookkeeping operations. ... Read full article

If you haven't met Suzanne Shank you should. She is the chair and CEO of Siebert Brandford Shank & Co. LLC, the nation’s largest female-and minority-owned, privately held finance firm, which she started with the legendary Muriel Siebert. Join us ... Read full article

Congress acted first when it freed financial firms from having to disclose the beneficial owners of commercial clients. Now it's time for regulators to further ease anti-money-laundering reporting requirements by freeing them from filing duplicative ... Read full article

CO Federal Credit Union, which has $4.5 million in assets and serves just 785 members, was conserved due to unsafe and unsound practices, the regulator said. ... Read full article

While a positive development, the bank is still operating under 10 other enforcement actions; the president said Alipay, WeChat Pay and six other apps pose national security risks. ... Read full article

Several members of Congress challenging the result of the 2020 presidential contest received financial support from trade groups that could find themselves in hot water with some constituents. ... Read full article

A panel appointed by the Consumer Financial Protection Bureau said Congress should consider authorizing the bureau — and not the Office of the Comptroller of the Currency — to issue federal charters to fintech companies. ... Read full article

Acquiring Boston Private could put the parent company of Silicon Valley Bank years ahead of schedule in catering to the investment needs of high-tech and biomedical clients, whose industries have thrived during the pandemic. ... Read full article

Seven states and the District of Columbia want to invalidate a new federal rule that threatens to hinder states’ power to cap interest rates on consumer loans. ... Read full article

The Office of the Comptroller of the Currency terminated a 2015 consent order that required the bank to improve its controls for combating money laundering. ... Read full article

Felix Todd, formerly of Regions Financial, says "the excitement is authentic" at the New York community development bank, which has a reputation for being both innovative and purpose-driven. ... Read full article

Rockefeller Capital Management will buy Whitnell & Co., a business Associated bought in 2017 that manages $1.4 billion of assets. ... Read full article

The digital currency and related distributed-ledger technologies could "enhance the efficiency, effectiveness and stability of the provision of payments," according to an interpretive letter issued by the Office of the Comptroller of the ... Read full article