News Topic: BankThink

Carver Bancorp. and Urban One Inc., two companies that serve black and underrepresented communities, more than doubled on Wednesday as traders aid trends associated with supporting black-owned businesses amid global protests against police brutality. ... Read full article

The legislation would aim to address concerns that the current policy is outdated by establishing a new regime to limit asset growth for banks that are not well-capitalized. ... Read full article

The FHFA and FHA both announced for the second time that they were delaying the freeze to protect borrowers and renters during the coronavirus pandemic. ... Read full article

The availability of some loans used to build homes dried up due to the coronavirus. Opening up the economy may help if it doesn't lead to a spike in infections, and if consumer demand persists. ... Read full article

The agency’s advance notice of proposed rulemaking, which would require banks to evolve with technology, shows foresight that policymakers too often lack. ... Read full article

The bank joins rivals such as Deutsche Bank AG and UniCredit SpA in forging ahead with job cuts that were put on hold at the outset of the pandemic. ... Read full article

The Los Angeles company said Commerce Mortgage, founded by former bank CEO Steven Sugarman, wasn't a shareholder by the record date for its annual meeting, even though the firm reported a 9.7% stake earlier this year. ... Read full article

Banks paid out nearly twice as much as they earned in the first quarter; Marilyn Booker, a managing director, said she was fired in December for pushing too hard on a diversity plan. ... Read full article

Wells Fargo Chief Executive Officer Charlie Scharf, who vowed last month to do more to improve diversity within the firm's ranks, is tying executives' pay to their progress in doing so. ... Read full article

The Fed chairman updated senators about the agency's new credit facility for midsize firms struggling in the pandemic. He also left open the possibility of additional stress tests to gauge the industry’s coronavirus response. ... Read full article

Shelter-in-place orders have given homeowners the time to pursue upgrades and repairs, and banks are seizing the opportunity to help finance the projects. ... Read full article

A lawsuit filed Tuesday argues that the bureau's establishment of the panel looking into regulatory changes violated the Federal Advisory Committee Act. ... Read full article

Sells, American Banker’s Digital Banker of the Year, explains how he encouraged his team to take risks on projects like a three-minute account opening process and a system that analyzes core data in real time to help set deposit prices. ... Read full article

In one of the first comprehensive analyses of how the banking industry was affected by the onset of the coronavirus pandemic, the agency said quarterly income fell by nearly 70% from a year earlier. ... Read full article

The Maryland company said the additions, including a former bank CEO, will strengthen its “overall operational and strategic management." ... Read full article

The online lender quickly built an app for ride-share drivers with much of their information already filled in. ... Read full article

Giant U.S. banks still have to deliver a Brexit plan to get staff across the English Channel before a potential second wave of Covid-19 forces Europe's doors shut again. ... Read full article

As governments explore whether to compensate African Americans for centuries of racism, financial institutions need to do their part to redress victims of persistent redlining. ... Read full article