BankThink

Citi said to consider divesting some foreign consumer units

02/19/21

The company is mulling the sale of certain retail operations the Asia-Pacific region as part of incoming CEO Jane Fraser's plan to streamline operations, according to people familiar with the matter.

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Santander’s CRA rating upgraded to ‘outstanding’

02/19/21

The Boston-based bank said the Office of the Comptroller of the Currency gave it the highest grade possible on its most recent Community Reinvestment Act examination. Santander had received a “needs to improve” grade in 2017 and had a “satisfactory” rating in 2018.

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SPACs supercharging fintechs

02/19/21

MoneyLion and Opportunity Financial are following in the footsteps of financial technology businesses that have raised billions of dollars from special purpose acquisition companies. The quick injection of funds is expected to accelerate their growth as well as make them more competitive with banks and other mainstream financial services firms.

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Bankers plead for answers from SBA on forgiving big PPP loans

02/19/21

The Small Business Administration wants to vet Paycheck Protection Program loans of $2 million or more, but lenders have grown tired of waiting for months with no updates.

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Citigroup tells Texas employees they can use office for shelter

02/19/21

Citigroup told employees in Texas they could take shelter in the firm’s offices as the state grapples with the effects of a snow and ice storm earlier this week.

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Fed sounds alarm on commercial real estate, business bankruptcy

02/19/21

he Federal Reserve warned of significant risks of business bankruptcies and steep drops in commercial real estate prices in a report published on Friday.

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Credit unions across Texas dig out after historic winter storm

02/19/21

A severe cold snap in the state has tested financial institutions unaccustomed to such weather-related disruption.

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New leadership in place as CEO of Somerset Federal Credit Union retires

02/19/21

Joseph Lajoie has succeeded Pamela Mello, who stepped down last month after more than five years in charge.

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Fintech seeks ILC to be one-stop banking resource for startups

02/19/21

Brex currently relies on bank partners to offer credit cards and cash management accounts to small and midsize businesses. It is looking to charter its own FDIC-insured institution to be a direct provider.

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New OCC chief should encourage banks, fintechs to partner with CDFIs

02/19/21

Community development financial institutions would reach even more underserved households and business if they had strong relationships with tech firms and national banks. Here's how the Office of the Comptroller of the Currency can foster such partnerships.

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