News Topic: BankThink

The former chairman butted heads with colleagues over the agency’s budget this week, and the Senate is expected to vote to confirm a successor early next month. ... Read full article

Democrats called the decision by Treasury Secretary Steve Mnuchin "misguided," arguing that it's too soon to shutter the Federal Reserve's emergency-lending programs. Republicans say the programs have run their course and should expire ... Read full article

The Partnership for Carbon Accounting Financials recently released a methodology for measuring the environmental impact of loans and investments, a key hurdle to the banking industry's long-term goal of net-zero emissions tied to its portfolios. ... Read full article

Some large banks have come under fire from the GOP for curbing services to firms in controversial industries, such as firearms and fossil fuels. A proposal by the Office of the Comptroller of the Currency aims to block banks from taking such stances. ... Read full article

The company's latest report predicted there could be sustained economic pressures well into next year tied to rising coronavirus cases. ... Read full article

Daylight's initial product lineup includes a prepaid debit card with the customer’s chosen name and educational content around issues unique to LGBT households. ... Read full article

Why PNC spent its war chest on BBVA; Trump’s 11th-hour nomination of Brian Brooks to run OCC complicates Biden regulatory agenda; Senate may not flip but Banking Committee is poised for shake-up; and more from this week’s most-read stories. ... Read full article

Banks are responsible for reporting their business customers' beneficial owners, but a bill that would shift that anti-money-laundering duty to businesses themselves has been added to a must-pass defense spending package. ... Read full article

The pandemic has highlighted massive inequalities in American life but the financial services industry can play a role in reducing these divisions. ... Read full article

The algorithms banks use to assess the financial well-being of minorities would be more effective if Black analysts crunched the numbers, says Troynica Green, a data analyst at Regions Bank. ... Read full article

Lenders want Congress to bring back incentives used during the last recession, such as bigger subsidies and reduced fees, to jump-start participation in the Small Business Administration's flagship 7(a) program. ... Read full article

The announcement is met with an unusual rebuke from the Fed, which wants the programs to continue; the deal would allow the companies to approve credit and customize services. ... Read full article

Joseph Lebel's promotion follows a third-quarter loss as the New Jersey company company looks to get ahead of credit issues by selling high-risk loans. ... Read full article

If Congress speeds through Brian Brooks’ confirmation in the waning days of the Trump administration, it could make it harder for President-elect Biden to quickly put his stamp on banking policy. ... Read full article

Treasury Secretary Steven Mnuchin called on the Federal Reserve Thursday to let several of its emergency lending facilities expire at yearend and return unused funds provided by Congress. But the central bank wants the programs to continue. ... Read full article

The credit union regulator's November board meeting covered a variety of issues, including the voluntary self-assessment, disagreements on the budget proposal and the possibility of new insurance premiums in 2021. ... Read full article

The league has altered its formula for calculating member dues, a move expected to save credit unions nearly $800,000 next year. ... Read full article

Just a few months after signaling that provisions for loan losses had peaked, many banks are planning to once again add to reserves to guard against pandemic-related defaults, according to a survey released by IntraFi Network. ... Read full article