News Topic: BankThink

Bank of Southern California's all-cash offer for CalWest was reduced by nearly 20% after the buyer's shareholders declined to approve the deal. ... Read full article

Ever since people started sheltering at home to limit the spread of coronavirus, payments industry experts have wondered how this would affect the use of cash and cards. ... Read full article

Submissions total about $17.8 billion in requested funding for the second round of the Paycheck Protection Program, with an average loan size of $81,000. ... Read full article

Nearly 70% of U.S. adults between the ages of 26 and 40 said their earnings had been negatively affected by the outbreak, about 10 percentage points higher than other age group. ... Read full article

The Main Street Lending Program, announced on April 9 as an option to help U.S. businesses weather the coronavirus outbreak, will be available to a wider array of companies than previously planned. ... Read full article

Cybercrime has emerged as one of the biggest potential sources of risk to the financial system over the last 20 years, and cybersecurity is a paramount concern to bankers everywhere. But can the internet be made more secure? ... Read full article

It's time for agencies like the Small Business Administration to stop playing catch-up and invest in state-of-the art technology. ... Read full article

A former economist says high-ranking officials engaged in “legally risky” behavior to downplay consumer harm; online payments and contactless transactions jumped in the first quarter, and some think the new habits will stick. ... Read full article

The online lender has deployed new software designed to spot security risks early, especially the kind of cloud-data issues that led to the Capital One-Amazon breach. ... Read full article

The industry dodged a bullet after the former vice president outlasted more progressive rivals for the Democratic presidential nomination. But some worry the presumptive nominee will have to consider calls for tougher regulation from his party's ... Read full article

Ally, Synchrony, Discover, Sallie Mae and Navient are the other lenders the ratings firm downgraded, citing the impact that the coronavirus crisis is having on their revenues and profits. ... Read full article

The Federal Reserve chairman pledged to use every tool at the central bank's disposal to limit the economic fallout from the coronavirus and urged lawmakers to take further action. ... Read full article

The lenders are bracing for spikes in delinquencies or defaults on loans to a sector heavily punished by social distancing measures. ... Read full article

The bureau issued an interpretive rule clarifying that consumers under certain conditions can modify or waive waiting periods required by the Truth in Lending Act and Real Estate Settlement Procedures Act. ... Read full article

Industry veterans have drawn from their experiences with wildfires, earthquakes and hurricanes to fashion their responses to the pandemic. ... Read full article

The Small Business Administration's last-minute plan to temporarily block larger banks from the relief loan program is another example of the agency changing the rules midstream, critics said. ... Read full article

As the coronavirus outbreak starts to ebb in New York and pressure rises on the U.K. government to end London’s lockdown, the largest banks are grappling with how to adhere to social distancing rules. ... Read full article

The American Bankers Association and the National Bankers Association will collaborate on training and advocacy efforts. ... Read full article