BankThink

Wells Fargo sheds its asset manager as Scharf reshapes bank

02/23/21

Wells Fargo plans to sell its asset management business to two private equity firms, part of Chief Executive Charlie Scharf's efforts to dump nonessential operations and help the bank emerge from years of scandals.

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Treasury to facilitate bank climate tests; U.K. banks call for level playing field

02/23/21

Yellen says the tests probably won’t lead to imposing capital requirements or limit dividends; the big banks want a global convergence in financial standards to do business in other countries.

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Biden plan to help smallest PPP applicants has downsides, banks warn

02/22/21

It would ignore technical glitches plaguing the entire Paycheck Protection Program and could end up delaying loans to larger borrowers who also need relief, bank executives and their trade groups say.

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Credit unions turn to digital outreach as membership growth slows

02/22/21

Some in the industry are beefing up online educational offerings and enlisting social media ambassadors on college campuses to help recruit younger consumers.

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Yellen signals interest in backing digital-dollar research

02/22/21

Treasury Secretary Janet Yellen said a digital version of the dollar could help address hurdles to financial inclusion in the U.S. among low-income households.

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How banks are helping Texans cope with a 'nightmare'

02/22/21

From delivering water door to door to turning offices into shelters, bankers in the state have adapted their hurricane-response plans to offer customers and employees relief from the past week's snow emergency and power outages.

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Senate panel to question CFPB, SEC nominees next month

02/22/21

The Banking Committee will hold a confirmation hearing on March 2 for Rohit Chopra and Gary Gensler. They are the administration's picks, respectively, to lead the Consumer Financial Protection Bureau and the Securities and Exchange Commission.

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What finally brought M&T and People's United together

02/22/21

M&T had long coveted the Connecticut regional but couldn't make a deal work. Their merger is the latest example of regional banks joining forces to compete in an industry undergoing rapid transformation.

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In this crisis, White House and banks are on same team

02/22/21

More than a decade after the near collapse of the financial system and the bruising fight over Dodd-Frank put the industry and a Democratic administration in conflict, President Biden and the financial services sector are allied over the COVID-19 relief plan.

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Expand CRA to include nonbanks

02/22/21

If policymakers are serious about revitalizing low-income communities, they should require all fintechs and other nonchartered lenders to adhere to the Community Reinvestment Act.

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