News Topic: BankThink

With big banks largely shunning the program, small banks see an opening to grab more market share in commercial lending. ... Read full article

The company has now filed three lawsuits in its bid to recoup nearly $900 million it inadvertently sent to the cosmetic company's creditors. ... Read full article

Fannie and Freddie's 0.5% mortgage refi fee might not be the last one as they seek to build capital; a federal judge agrees to freeze money the bank mistakenly paid to lenders. ... Read full article

Observers say the rare denial is rooted in skepticism that a new bank can succeed under current economic conditions and a signal to other proposed banks to hit the pause button. ... Read full article

The Japanese conglomerate first applied for deposit insurance in July 2019 and again in May 2020. ... Read full article

The Consumer Financial Protection Bureau says the proposal would increase access to credit, but consumer groups argue that it will encourage lenders to make high-cost loans while protecting them from legal liability. ... Read full article

Under the agreement, fintechs and their bank partners will have a safe legal harbor to offer loans, as long as their interest rates do not exceed 36% and they meet various other standards. ... Read full article

American Express isn't acquiring any loans in its deal for the online small-business lender. Here's what it is getting. ... Read full article

JPMorgan Chase is funding a two-year initiative in which nonprofit Commonwealth will study the impact of artificial intelligence and other technologies on financially vulnerable Americans. ... Read full article

Barb Godin, the deputy chief risk officer and chief credit officer at the Birmingham, Ala., bank, is stepping down after a 45-year career in banking. ... Read full article

Crypto provides a new tool for underbanked consumers, Marc Grens of DigitalMint writes. ... Read full article

Democrats on Wall Street welcomed Joe Biden's choice of running mate Kamala Harris as a sign that party progressives who favor more aggressive bank regulation had been kept at bay. But her track record in the Senate and in state government might give ... Read full article

The bank is suing lenders to return $900 million they were mistakenly paid last week; the deal will put the credit card company in the online small-business lending market. ... Read full article

Jelena McWilliams's term as FDIC chair expires in 2023, and she cannot be removed by an incoming president. But if Joe Biden prevails, he may ask her to stay — and if she does, governing a Democratic-majority board would be a very different ... Read full article

Mary Mack is expected to say that other employees were scared of Carrie Tolstedt, according to the bank’s regulators. Tolstedt, one of five former Wells executives facing civil charges in connection with the bank’s phony-accounts scandal, could be fined as ... Read full article

Vanessa Colella, innovation chief at Citi, says remote working has had a democratizing effect. She also touches on the types of technology Citi has been incubating, the startups it’s investing in and her efforts at fostering a culture of generosity. ... Read full article

Dana Wade, a former OMB official, says a strong capital footing will help the Federal Housing Administration weather an uptick in delinquencies and ensure the mortgage market is viable once the economy recovers. ... Read full article

The bank has begun briefing regulators about how it mistakenly sent payments to creditors of Revlon, the financially strapped cosmetics company. Citi has also filed a lawsuit against Brigade Capital Management seeking to recoup $175 million it sent to ... Read full article