BankThink

Yellen goes to bat for stimulus package; Fed governor warns on climate risks

02/19/21

The Treasury secretary says the economic crisis warrants the $1.9 trillion spending plan; Brainard says banks and other lenders need to prepare for events like the crisis in Texas.

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Synthetic IDs are key to solving fraud’s whack-a-mole game

02/19/21

Credit card and bank account fraud have soared during the pandemic, with fraudsters intercepting consumer data via retail and banking disruptions and worsening synthetic ID fraud.

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Stimulus, excess savings temper demand for personal loans

02/18/21

Unsecured personal lending has fallen as many consumers have stashed away cash and paid down credit card balances during the pandemic. The trend probably won’t reverse course anytime soon.

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NCUA chief warns of new deposit insurance premiums

02/18/21

Todd Harper, chairman of the National Credit Union Administration, said new assessments are likely needed because of an influx of deposits, but industry groups and other board members say the agency should wait to see if the reserve ratio recovers on its own.

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First National to enter southwestern Virginia with Bank of Fincastle deal

02/18/21

The company has agreed to pay $32 million for a bank with six branches and $256 million of assets.

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How new robo adviser fits into Goldman's tech strategy

02/18/21

The automated investing tool is part of Goldman Sachs's effort to be a full-service digital bank and to help partners like Apple and Stripe offer financial products, according to Stephanie Cohen, global co-head of consumer and wealth management.

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Fed's Brainard backs stress test-like exercise to address climate risks

02/18/21

Federal Reserve Gov. Lael Brainard said "scenario analysis" is distinct from traditional regulatory tools to assess capital strength, but can measure the long-term impact of weather events and the transition to a greener economy.

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Mortgage boom fuels launch of UW Credit Union’s racial equity fund

02/18/21

The Madison, Wis.-based credit union will donate $1.5 million to a pair of United Way chapters in the region which will help distribute the funds to organizations serving communities of color.

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Black business owners cautiously optimistic about 2021, survey finds

02/18/21

A survey commissioned by Bank of America found that Black entrepreneurs are more hopeful about revenue opportunities than other small-business owners, though many are still struggling to bring in the capital needed to expand.

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Cadence Bancorp considering a sale: Sources

02/18/21

The Houston-based lender is working with financial advisers to solicit interest from potential buyers, according to people familiar with the matter.

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