News Topic: BankThink

A key Democrat on the House Financial Services Committee, Rep. Carolyn Maloney has a slim lead over a primary challenger, Suraj Patel, a progressive political activist and New York University Professor. ... Read full article

The company’s U.S. chief executive says the primary goal behind the app it rolled out Wednesday is to help customers improve their financial health and avoid overdrafts. ... Read full article

The payments company is buying Finicity, which powers platforms for Rocket Mortgage and others; the small N.J.-based lender to fintechs is the fourth largest PPP provider. ... Read full article

A global health crisis. Economic free fall. A reckoning over racism and inequality. We will not be the same after this — and neither will banking. ... Read full article

Whether they take the form of a mobile wallet or a touch-free credit card, contactless payments are poised to take off as consumers — wary of using terminals and ATMs or handing cards back and forth — change their habits. ... Read full article

The Paycheck Protection Program put a premium on speed in processing and funding loans. ... Read full article

The pandemic and the Black Lives Matter protests have changed the way banks interact with their customers, communities and employees. Here's how. ... Read full article

The coronavirus crisis led to "the greatest acceleration of digital banking in history." Here's what to expect next. ... Read full article

Banks are beginning to emphasize soft skills to help employees make “human” connections with customers in an environment of reduced face-to-face contact. ... Read full article

The pandemic will accelerate the drive toward a supervision process in which both regulators and banks will need the digital tools that enable sophisticated remote exams. Expect a heightened focus, too, on customers' financial health. ... Read full article

A new CFPB rule will expedite the forbearance and loss-mitigation process for consumers suffering financial hardship from the pandemic. ... Read full article

Three banking trade associations told the FDIC that Rakuten Bank America, even after revisions to its earlier application to the agency, would still violate the separation of banking and commerce as well as present consumer privacy concerns. ... Read full article

Participation in the Main Street Lending Program for midsize companies is partly about public service, but the core business rationale is building "a banking relationship that continues on for some time," the Boston Fed chief says. ... Read full article

Challengers like Joust, Lili and NorthOne that offer banking services to freelancers and small-business owners are getting record levels of new customers as the traditional workforce thins. ... Read full article

Mastercard has agreed to acquire Finicity for a reported price of $825 million, a move the card brand says will strengthen its open banking platform and expand financial services through more real-time access to data. ... Read full article

Rather than funnel mortgage and rent payments through consumers, the federal government should instead deal directly with landlords, utilities and banks, suggests Howard Newman, managing partner of Pine Brook Partners. ... Read full article

Bankers’ criticism that the expanded designation would bolster the largest credit unions is misguided. ... Read full article

Markus Braun turned himself in to Munich prosecutors, who arrested him on suspicion of false accounting and market manipulation; the Wirecard fallout may make it harder for European fintechs to attract investors. ... Read full article