News Topic: BankThink

With one study showing consumers racking up additional credit card debt this season, some members may be eager to consolidate their balances in the year ahead. ... Read full article

Neil Gordon, a former executive at nearby Millbury Federal Credit Union, will take the helm next month. ... Read full article

Underpinning the technology with mathematically sound models can make a better case to consumers and regulators for why a loan applicant was denied. ... Read full article

While delinquencies are down thanks to previous government support checks, bank lending is moribund; the two bankers helped the president get $330 million in loans that come due soon. ... Read full article

The legislation allows the Small Business Administration to waive fees and raise the guarantee for 7(a) and 504 loans, which could encourage more small businesses to apply for loans as the economy recovers. ... Read full article

Riverside Health System Employees Credit Union has announced plans to merge into the Yorktown-based credit union, which is roughly 100 times its size. ... Read full article

The Consumer Financial Protection Bureau said that the Dallas-based auto lender knowingly supplied inaccurate consumer data to the three major credit reporting agencies. ... Read full article

The consumer bureau said the bank’s migration to a new servicing platform led to unauthorized payment withdrawals, misrepresentations about what borrowers owed and violations of a prior 2015 enforcement action. ... Read full article

Bank of America’s chairman of global corporate and investment banking, Anne Clarke Wolff, is leaving the firm. ... Read full article

The Oregon bank has launched a new division targeting businesses with up to $15 million in annual sales and tapped the banker who led its Paycheck Protection Program lending, Ashley Hayslip, to run it. ... Read full article

Rosemary Vrablic, who worked in the private banking division, helped manage Trump’s relationship with the bank as it lent hundreds of millions of dollars of loans to Trump’s company over a number of years. ... Read full article

Congress’s passage of a measure requiring startup companies — instead of their banks — to identify true owners was arguably the industry’s biggest legislative achievement in 2020. Now the industry is urging lawmakers to revisit proposals that would ease ... Read full article

This oldest consumers in this next group are approaching their mid-20s, so financial institutions must think about tweak their marketing if they hope to reach them in an meaningful way. ... Read full article

The Federal Reserve and the New York State Department of Financial Services have ordered the Swiss bank’s U.S. arm to improve oversight and better monitor the activities of its customers. ... Read full article

The company will pay $20 million in cash for a bank with two branches and $58 million of loans. ... Read full article

The company did not disclose the nature of the suit, but CEO Brad Garlinghouse has long disputed the Securities and Exchange Commission's claim that XRP is a security, not a currency. ... Read full article

In 25 years at the helm, Brian Hall helped the Southern California credit union grow from $48 million of assets to nearly $600 million. ... Read full article

The application rate for new cards has fallen 10 points to just under 16%, the lowest level since 2013; small businesses that got loans last time would be eligible for a second helping, with limits. ... Read full article