BankThink

Loans fell, membership and savings balances rose in January

03/23/21

CUNA Mutual Group's latest Credit Union Trends Report shows consumers continue to deleverage thanks to stimulus payments and cash-out refinancing, though membership picked up slightly.

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Business First in Louisiana agrees to buy investment adviser

03/23/21

Smith Shellnut Wilson has managed Business First's investment portfolio since the bank was formed 15 years ago.

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Citigroup CEO bans Friday Zoom calls, encourages vacations

03/23/21

Citigroup Chief Executive Jane Fraser has barred internal video calls on Fridays and encouraged vacations in an effort to combat workplace malaise brought on by the coronavirus pandemic.

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Goldman didn’t discriminate with Apple Card, N.Y. regulator says

03/23/21

Goldman Sachs Group didn’t use discriminatory practices when deciding whether to extend credit to prospective customers of its Apple Card, said the New York State Department of Financial Services.

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Libor’s end leaves nearly $2 trillion of debt facing legal limbo

03/23/21

Almost $2 trillion of debt pegged to dollar Libor, much of which can’t easily be shifted to an alternative benchmark, won’t mature until after the discredited rate expires in mid-2023, according to the Federal Reserve-backed group guiding the transition.

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Banks happy to let cardholders buy weed online, lawyers say

03/23/21

Lawyers defending two men accused of defrauding banks into processing pot purchases said banks including Citigroup and Bank of America were happy to look the other way when customers used their credit and debit cards to buy marijuana online.

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Fed to go slow on digital dollar; Quarles warns banks on Libor deadline

03/23/21

Powell says the Fed won't move forward without approval from Congress; the Fed's vice chair for supervision tells banks not to use the tainted benchmark on any new deals after this year.

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Card issuers reliant on miles, hotel rewards await travel rebound

03/22/21

Large banks that counted on airline and hospitality points to drive loan growth in the credit card business are anticipating renewed demand once safety concerns subside. But they’re also cautioning that the recovery in travel spending is likely to be gradual.

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Banc of California will buy Pacific Mercantile, ending M&A drought

03/22/21

Banc of California, which last bought a bank in 2013, has agreed to pay $235 million in stock in this in-state deal.

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Credit cards slash $99 billion from spending limits during pandemic

03/22/21

The 14 lenders that dominate U.S. credit cards slashed $99 billion from their customers’ spending limits in 2020, mostly affecting financially troubled households.

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