News Topic: BankThink

The program is intended to aid businesses hit hard by pandemic-induced lockdowns, but lenders are lobbying to have the rules relaxed to help owners of stores and offices damaged by recent riots and looting. ... Read full article

The new product, which comes as an earlier partnership with the online lender Kabbage is sputtering, figures to appeal to companies with tight cash flows. ... Read full article

Members of both parties raised concerns that the requirements for participating in the Municipal Liquidity Facility and Main Street Lending Program are too restrictive to benefit smaller localities and certain midsize firms. ... Read full article

The changes being sought would benefit both small businesses and banks, which would avoid the cost of servicing many low-yielding loans. ... Read full article

The Georgia company said the agency is looking at its policies for paying, or withholding, Paycheck Protection Program fees to borrowers' agents. ... Read full article

An interagency notice meant to encourage lenders to offer small consumer loans also provides federal agencies too much say on what constitutes “reasonable” pricing. ... Read full article

The funds will be used to support housing, job training and aid for small businesses in communities that have been disproportionately affected by the pandemic. ... Read full article

With no way of knowing just how many borrowers will need the mods after the coronavirus forbearance period ends, lenders are deploying artificial intelligence and servicing protocols to tame the ferocious piles of paperwork awaiting them. ... Read full article

Brian Brooks says coronavirus mandates, such as masks, could potentially harm banks; some recipients of the Treasury prepaid cards don’t believe they are for real. ... Read full article

Competition over virtual currency could alter politics and global power structures, potentially to the detriment of the U.S., the author of "The Currency Cold War" argues. ... Read full article

Many of the cultural changes instituted by Hisham Salama, one of American Banker’s 2020 digital bankers of the year, have led to a more agile tech team and higher customer satisfaction scores. ... Read full article

The rescue bill enabled banks to protect loans in forbearance from an immediate hit to a borrower’s credit report, but experts say affected consumers may have trouble getting loans after the pandemic ends. ... Read full article

With the pandemic putting plexiglass in short supply, Joe McDonald called up a local source: a former classmate. ... Read full article

Acting Comptroller of the Currency Brian Brooks took the extraordinary step of wading into the debate over when it was appropriate to reopen businesses. ... Read full article

Bankers spent Monday cleaning up damaged branches, wondering if their small-business clients will need more emergency aid and contemplating how the racial and economic inequalities highlighted by days of violent protests nationwide can be corrected. ... Read full article

It took a global pandemic to get many baby boomers to bank online. Lenders have taken notice. ... Read full article

The Federal Reserve set up a liquidity facility to help banks meet demand for emergency small-business loans through the Paycheck Protection Program, but it's gone largely unused. ... Read full article

Thomas O'Brien will take the helm at Sterling Bancorp, which is dealing with internal control issues and probes by the OCC and Justice Department into its mortgage operations. ... Read full article