News Topic: BankThink

The new “adverse market fee” for refinanced mortgages resembles steps the companies took to combat the 2008 mortgage crisis. But critics charge it isn’t necessary and will hurt borrowers’ ability to tap into low rates. ... Read full article

The proposed combination would create a bank with $3 billion in assets in central Virginia. ... Read full article

Major payment companies have long looked on at cryptocurrencies as too risky to touch, but too tempting to ignore. Mastercard's latest move indicates that the card brands are ready to make a firm pitch for crypto spending. ... Read full article

The Massachusetts company is laying off more than 40 employees with a focus on people working in its retail banking operations. ... Read full article

Covered Care is promising to offer affordable loans to borrowers with credit scores below 700. ... Read full article

The card account, which has about $3 billion in outstandings, has about a year to run with Capital One; Boston Fed chief says recent virus outbreaks threaten economic rebound. ... Read full article

Criticized assets are on the rise, especially in commercial portfolios, and may be the forerunner of a wave of loan losses later this year or next year unless economic conditions strengthen. ... Read full article

As the discredited Libor interest rate benchmark enters its last months, some banks are turning away from the repo-based alternative that regulators prefer. What could go wrong? ... Read full article

The Paycheck Protection Program has masked what has been a year of tepid demand and tightened lending standards. And bankers aren't expecting a rebound anytime soon. ... Read full article

Eight of the top 15 firms increased headcount this year through June, while only four reduced it. ... Read full article

Banks and other financial firms say the proposal to reverse restrictions on investment advisers does not go far enough. Meanwhile, investor advocates say it would loosen necessary protections. ... Read full article

Built to respond to borrowers' questions about mortgage deferrals, the bot created by Salesforce is evolving and in the future could schedule appointments, answer questions about new digital products or help with emergencies. ... Read full article

The head of the Federal Reserve Bank of Boston said the central bank had acquired stakes in 32 business loans as of Monday, four times the amount from two weeks earlier. ... Read full article

A public-private partnership that has fewer rules and restrictions than the Paycheck Protection Program would save more small businesses. ... Read full article

Dhivya Suryadevara will help the online payments company as it expands globally; the CEO has kept the bank moving forward during the pandemic while competitors have faltered. ... Read full article

Chargeback requests have surged since the start of the coronavirus pandemic, as airlines have canceled flights, performers have postponed concerts and supply chain disruptions have delayed the delivery of many goods. ... Read full article

A second-term Trump administration would likely continue its deregulatory efforts, focus on Fannie Mae and Freddie Mac's exit from conservatorship, and seek to facilitate fintech participation in the banking system. ... Read full article

The coronavirus pandemic has created major credit issues at the Boston bank and stymied efforts to improve profits, fueling speculation that the onetime serial acquirer could be a takeover target. ... Read full article