News Topic: BankThink

The regulator announced in June it would use call report data from before the crisis to calculate bank assessment fees in September, a one-time change. ... Read full article

As more consumers do business online, some deposits are being unfairly categorized as brokered, inviting burdensome regulatory scrutiny. ... Read full article

The firm’s software helps automate digital home loan closings; the OCC said the bank failed to implement adequate risk processes before it transferred its customer data to the public cloud. ... Read full article

Spinning off its digital bank will allow Pennsylvania-based Customers to beef up its commercial lending and buy other banks. BankMobile, meanwhile, plans to pursue more white-label relationships and perhaps explore its own acquisitions. ... Read full article

Just eight loans had been made as of late July, six of them through a single community bank in Florida, according to new data on the federal rescue program for small and midsize companies hurt by the pandemic. ... Read full article

The American Dream Down Payment Act would let states establish and manage accounts, which would be similar in structure to 529 college savings plans. ... Read full article

Regulators found fault with the bank’s cloud migration efforts in the years that preceded a 2019 hacking incident. ... Read full article

The central bank released new details about FedNow, which officials hope to get off the ground before a 2023 or 2024 target launch date. ... Read full article

Credit card balances declined most sharply as consumers cut back their spending due to the coronavirus pandemic and associated shutdown orders, the New York Fed said Thursday. But delinquencies also fell across all debt categories, thanks to government and ... Read full article

The digital bank would merge with Megalith Financial to create a new publicly traded company that would offer licensed products and services. ... Read full article

The coronavirus pandemic has forced some branches to close, but demand for in-person advice remains strong. ... Read full article

The agency said property owners can enter into new or modified forbearance plans if they have a hardship due to the coronavirus, but the landlords must agree not to kick out renters solely for nonpayment of rent. ... Read full article

The digital bank founded by a former Western Union president offers tools to help low and moderate income people. ... Read full article

The big mortgage lender now expects to raise only $1.8 billion after originally setting a goal of $3.3 billion; the bill would make reducing racial inequality an official part of the Fed’s mission. ... Read full article

Many sellers are ditching the loans to avoid the cumbersome forgiveness process. For others, the Paycheck Protection Program was never a strategic fit. ... Read full article

The account would complement the existing Community Development Financial Institutions Fund and could be replenished annually if banks and credit unions use the funds to help when natural disasters and other crises occur. ... Read full article

Deferrals on residential mortgages and home-equity loans have been a common theme at JPMorgan Chase, Bank of America, Wells Fargo and Citigroup since the start of the coronavirus pandemic. ... Read full article

An industry coalition wants to ensure borrowers who took out certain types of loans to fund their education aren’t locked out of access to historically low mortgage rates. ... Read full article