News Topic: BankThink

H&R Block intends to break off the relationship since the parties have been unable to restructure compensation to reflect new interchange fee caps at Axos. ... Read full article

Congress authorized the Federal Deposit Insurance Corp. to intervene if the pandemic caused a liquidity scare, but nearly two months later deposits are through the roof and the agency has not acted on the expanded authority. ... Read full article

But market observers remain unsure whether changes to the $100 billion Term Asset-Backed Securities Loan Facility program will boost CLO investor demand or new-deal issuance, given key restrictions that remain in place. ... Read full article

The agency's announcement came one day after the agency said it would provide borrowers struggling to stay current with an additional payment deferral option. ... Read full article

The German bank’s money laundering controls are still not up to snuff, among other problems; three Democrats say banks may have shortchanged small-business borrowers. ... Read full article

A properly deployed combination of asset-based lending, commercial loans and investment banking is imperative in these circumstances. ... Read full article

Often overlooked in narratives about essential workers, branch and call-center employees are responding to challenges posed by the COVID-19 crisis. They’ve processed emergency-relief loans late into the night, coached customers unfamiliar with mobile ... Read full article

The Independent Community Bankers of America would not rule out legal action if Congress doesn't address the National Credit Union Administration's recent decision expanding the low-income designation. ... Read full article

The agency said Wednesday that as long as small businesses return funds they received through the Paycheck Protection Program, no action would be taken. ... Read full article

With the pandemic's economic toll leading to elevated billing error notices, the consumer bureau said card companies will not be cited if they fail to meet the typical time frame for resolving disputes. ... Read full article

More write-downs seem inevitable as the coronavirus outbreak wreaks havoc on the economy and bank stocks. ... Read full article

Incoming chief Frank Bisignano downplays any pressure to find $1.2 billion in cost cuts promised to shareholders from the acquisition of First Data. Instead he emphasized his track record of producing revenue growth and pledged to keep funding innovation ... Read full article

A negative Federal Reserve policy rate is still improbable, but if it were to happen it could be a net benefit, according to a note from JPMorgan Chase. ... Read full article

The head of the U.S. central bank said its emergency credit programs were not designed to prop businesses up over the long term. ... Read full article

Critics of the Community Reinvestment Act revamp want to freeze the rulemaking process. That would only delay financial help to New York and other hard-hit cities. ... Read full article

The move is the first time the bank has provided services to digital currency players; the Washington Post and four other heavy hitters want details on PPP and small business disaster loan programs. ... Read full article

The agency said without further action banks' participation in coronavirus relief programs could inflate their deposit insurance assessments. ... Read full article

U.S. Bancorp, Wells Fargo, WSFS and others were already deeply engaged in digital transformations before the coronavirus crisis led them to pivot — quickly. ... Read full article