News Topic: BankThink

The agency sought industry feedback on a host of potential changes to ensure that rules are “sufficiently flexible and clear in light of the technological advances that have transformed the financial industry over the past two decades." ... Read full article

The Consumer Financial Protection Bureau seeks to address challenged posed by the sunset of the London interbank offered rate at the end of 2021. ... Read full article

The policy comes more than a month after a different agency issued similar guidance for loans backed by Fannie Mae and Freddie Mac. ... Read full article

The quarantine and Citi's shift from hardware to software tokens have led to a 300% spike in commercial clients' opening of accounts online as well as increased digital banking use. ... Read full article

Representatives of lenders as well as businesses that received pandemic bailout money told an oversight board Wednesday that delayed and confusing instructions from the government hampered the effectiveness of the main rescue program for smaller companies. ... Read full article

Digital banking has ramped up during the coronavirus lockdown but customers will seek somewhere to go as cities reopen. A branch could provide that safe haven. ... Read full article

The bank’s Asia-Pacific chief backs law giving greater mainland control over the territory; the Center for Responsible Lending said big banks took in almost $12 billion in overdraft fees last year, with the bulk of it paid by lower-income customers. ... Read full article

Dramatic volatility in the global oil market, plummeting demand and potential regulatory risks are making some banks rethink their energy strategy. ... Read full article

David Howard's leadership of the OceanFirst digital strategy and innovation team that has developed a robo adviser, an Alexa skill and other cutting-edge tools earned him recognition as one of American Banker's digital bankers of the year. ... Read full article

The bill, which passed the House last week on a 471-1 vote, now heads to President Trump’s desk for his signature. ... Read full article

The veteran banker will serve as chief administrative officer, with responsibilities that include strengthening Citi’s data architecture, creating greater consistency in its dealings with regulators and enhancing its efforts to combat money laundering. ... Read full article

All U.S. states will be able to have at least two cities or counties eligible to directly issue notes to the Municipal Liquidity Facility program regardless of population. ... Read full article

Faced with limited growth opportunities and potentially mounting loan losses, banks are getting aggressive — and creative — to boost profits. ... Read full article

Two years ago, the Tulsa, Okla., bank expanded its Native American casino lending business nationwide. It seemed like a great plan until the coronavirus pandemic struck. ... Read full article

Recent steps that would help nonbank lenders enter the traditional banking system, like a proposal clarifying the industrial loan company charter, are needed but face strong opposition. ... Read full article

The mobile bank raised $241 million in its Series D round of funding, and expects to receive approval from regulators to become a nationally chartered bank this summer. ... Read full article

John Dugan says a successful effort by banks to alleviate the economic damage of the pandemic could boost the industry's reputation. ... Read full article

New York State regulators may bring an enforcement action against the German bank as early as this month; Wells Fargo’s decision to stop making loans to the dealers has more to do with credit quality than asset limits. ... Read full article