News Topic: BankThink

A recent ruling declaring the Consumer Financial Protection Bureau’s structure unconstitutional signaled that a similar outcome awaits the Federal Housing Finance Agency. But the FHFA will argue in a new case that it does not deserve the same fate. ... Read full article

Home purchases in markets outside of cities accounted for some of the San Francisco bank's loan growth. Executives believe this will be a long-term trend because a generous supply of inventory in less populated areas will appeal to buyers. ... Read full article

The energy sector, retail and hospitality are among the industries that are faring poorly during the pandemic. The bank expects loan losses to remain elevated well into 2021. ... Read full article

The council created by the Dodd-Frank Act to identify systemic risks launched a review of the market as part of an activities-based approach that shifts focus away from targeting individual firms. ... Read full article

Unity Bancorp must improve its policies and procedures, and increase staff training, for following Bank Secrecy Act and anti-money laundering laws. ... Read full article

JPMorgan Chase is one financial institution that plans to test Google Cloud’s new Confidential Computing product. ... Read full article

Net charge-offs fell at Citigroup and Wells Fargo, thanks to forbearance and federal stimulus. Leaders of those banks are warning that delinquencies could rise once the benefits of those programs wear off. ... Read full article

Megabanks like JPMorgan Chase boosted loan-loss provisions to record levels in the second quarter in preparation for what could be a wave of loan defaults. ... Read full article

Pedro Bryant will oversee a $3 million effort to fund small businesses in disadvantaged communities. ... Read full article

The results show how Wall Street giants such as Citigroup leaned on volatile businesses in the second quarter to counter mounting signs of distress from lending operations. ... Read full article

Provident Bank was recast as BankProv to avoid confusion as it adds business lines and enters new markets. ... Read full article

The Fed’s recent action capping dividend payments might prove inadequate once the coronavirus crisis really hits banks’ capital. ... Read full article

The firm set aside a record $9.5 billion for credit losses, about $4 billion more than analysts had expected, as it braces for a wave of coronavirus-related defaults. ... Read full article

Switching core banking systems has long been done face to face, but the coronavirus has driven the process into the digital arena. The change could be permanent. ... Read full article

Ashton Ryan, the New Orleans bank's CEO, and two other officers are accused of disguising the financial condition of certain borrowers before the bank's 2017 collapse. ... Read full article

The country's largest bank said second-quarter profit fell 51% to $4.69 billion, a smaller drop than forecast, as record trading revenue helped counter the biggest loan-loss provision in its history. ... Read full article

Mortgage lenders say now is not the time to water down a regulation aimed at combating discrimination in housing; New York Times discloses the names of Jeffrey Epstein’s bankers. ... Read full article

The Australian firm, best known for financing online purchases, is rolling out interest-free, point-of-sale loans at cash registers that it says could help U.S. merchants boost flagging sales. ... Read full article