News Topic: BankThink

A report from the derivatives agency says climate change poses “profound risks to the financial system;” the bank dismissed several people for improperly applying for Economic Injury Disaster Loans. ... Read full article

Jane Fraser, a longtime Citigroup executive, will be the first female CEO of a major Wall Street bank. She succeeds Michael Corbat, who had held the post for eight years. ... Read full article

At a time when some Americans are being tempted to pour their savings into risky investments, the son of a Wall Street veteran is encouraging them to set aside more money. ... Read full article

The pandemic and economic downturn upended most institutions' advertising plans for the year, and many credit unions have had to adjust not only their messaging but also the loan products they are promoting. ... Read full article

The stock market has reached record highs despite rampant unemployment, recession and a global pandemic. What gives? ... Read full article

The bank discovered the actions, all of which were tied to the SBA's Economic Injury Disaster Loan program, after noticing that suspicious amounts of money had been deposited into checking accounts owned by bank employees, according to a person with ... Read full article

Acting Comptroller of the Currency Brian Brooks and Department of Financial Services Superintendent Linda Lacewell stuck to opposing scripts on whether federal or state regulators are best equipped to protect consumers and supervise new entrants into the ... Read full article

Citigroup named Hassan to the new role as part of a move to combine its marketing and branding divisions. ... Read full article

The company and its global peers have seen their profitability hurt by half a decade of negative interest rates, which effectively make banks pay for holding clients’ cash. ... Read full article

Driver Management, a bank investor, alleges that First United in Maryland made false claims and improperly lobbied lawmakers to keep its nominees off the board. The bank asserts that it acted properly in response to an attempted hostile takeover. ... Read full article

The Senate Banking Committee met Wednesday to review central bank lending facilities such as the Main Street Lending Program, which provides bank-issued loans to middle-market firms. But some lawmakers on the panel said the focus of pandemic relief has ... Read full article

Sandra Sagehorn-Elliott will take over as the president and CEO of the Tucson, Ariz.-based institution next month, having served as chief operating officer of two different credit unions. ... Read full article

The industry saw small gains in many loan categories during the second quarter, but credit cards declined. A new study from WalletHub shows the biggest quarterly drop in credit card balances in over 30 years. ... Read full article

The bank's innovation group has developed a software tool for law firms. It hopes the project will help it speed products to market and attract top technology talent. ... Read full article

A pandemic-driven surge in bank deposits helped drive the agency's insurance reserves below their statutory minimum. ... Read full article

The bank said it found evidence that employees and customers misused several government stimulus programs; the Fed plan may be too restrictive to get banks and borrowers to participate. ... Read full article

Bank of Montreal's top executive says it's a "myth" that his company's commercial lending business is taking big risks and argues the bank will come through the recession with fewer loan losses than rivals. ... Read full article

The final version of the amended rule, like the original proposal, makes fair lending claims tougher to prove; but it does soften language that otherwise might have allowed mortgage companies to use algorithms to prove nondiscrimination. ... Read full article