News Topic: BankThink

Venture capitalists will shift their focus to fintechs that support financial inclusion, according to Emmalyn Shaw, managing partner of the VC firm Flourish. Meanwhile, challenger banks will continue to grow, she says. ... Read full article

Under the Federal Reserve’s loosened restrictions, big banks can buy back a limited amount of their stock starting next quarter, but only JPMorgan Chase has announced detailed plans to do so. ... Read full article

Sarah Canepa Bang will serve as a senior advisor to the agency's vice chairman. Separately, a 27-year veteran of the regulator announced plans to retire. ... Read full article

The pandemic has forced Bank of America, Chase, PCSB and other banks to find new ways to maintain connections with their customers and communities. ... Read full article

The pandemic and social unrest made 2020 one of the most challenging years in recent memory, but there is much the industry can learn from the past 12 months. ... Read full article

Citigroup promoted 70 women in its latest class of managing directors, the most ever but still less than a third of the total. ... Read full article

A long-awaited COVID-relief package in Congress is expected to extend liquidity measures for the industry and provide assistance to consumers that could help lenders avoid rising delinquencies. ... Read full article

At least two items on the industry's Paycheck Protection Program wish list were delivered: provisions allowing many existing borrowers to obtain new funding and streamlined forgiveness for loans of $150,000 or less. ... Read full article

The Pennsylvania senator, who will chair the Banking Committee if Republicans hold their majority, agreed to modify an amendment restricting the Federal Reserve’s emergency powers that Democrats had criticized as too extreme. ... Read full article

There’s an alarming gap between how small and large banks view the importance of digital engagement, according to a recent survey by Celent and Arizent. ... Read full article

When Mastercard and Visa cut ties with Pornhub in December, it was abrupt but unsurprising. The banking and payments industries have had a long and conflicted history with adult content. ... Read full article

The central bank said banks could withstand as much as $600 billion in pandemic-related loan losses; Fidelity National and Global Payments aborted talks about a $70 billion merge. ... Read full article

Win or lose, Citibank’s battle to recover half a billion dollars from an accidental payment is sure to prompt a review of internal controls in the industry and could have a lasting impact on the more than $1 trillion syndicated loan market. ... Read full article

A new report from the National Credit Union Administration showed institutions in many states are struggling with a deluge of deposits while their lending opportunities are drying up. ... Read full article

The online lender, which raised $240 million, wants to take its artificial intelligence technology for evaluating borrowers to the next level and expand its partnerships with banks, its CEO says. ... Read full article

The $10 billion portfolio of what are described as high-quality private student loans will be serviced by Nelnet. ... Read full article

This is the first time the agency has had a vice chairman since 2014. ... Read full article

The Federal Reserve's “mid-cycle” assessment — conducted in light of the uncertainty posed by COVID-19 — showed that several banks would maintain just the bare minimum level of capital under hypothetical scenarios. ... Read full article