UMB Financial’s success in aviation financing has boosted fee income, and the Missouri company has opened an office in Dublin — a hub for airplane sales and leases that could get busier as the airline industry restructures.
The decision is seen as a setback for the banking industry, which had been pushing for and extension, and a win for Democrats, who have argued that a pandemic is no time for banks to be shedding capital.
Bank economists predict further improvement in the quality and availability of consumer and business credit now that a third stimulus package has been approved. Still, COVID-19 vaccine distribution will determine how quickly the U.S. economy rebounds.
Barclays’ deal with the airline still has three years to run; the Fed chief said the pandemic has exposed the need for speedier cross-border money transfers.
Democrats want regulators to actively protect the financial system from losses tied to extreme weather events, while Republicans say climate policy is "beyond the scope" of their mission.
About 2,000 credit unions will receive a disbursement in connection with the failure of three corporates during the financial crisis, but the agency indicated nearly $2 billion in additional payments could be coming.
