BankThink

Small bank's asset sale is opportunity zone's gain

02/04/21

To avoid taxes on the divestiture of a commercial lending unit, Woodforest National Bank backed an Alabama redevelopment project through a government program that promotes investment in underserved communities.

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Fed terminates 2017 enforcement action against Santander

02/04/21

The enforcement action, which concerned deficiencies in the auto lender’s compliance risk management program, was the last remaining regulatory matter Santander had to resolve.

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Greek gang foiled after $14.4 million fraud attack on U.S. banks

02/04/21

A Greek-led organized crime group that stole more than $14.4 million from U.S. banks has been dismantled in a cross-border operation by three international law enforcement agencies.

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Big-player competition, changing consumer habits hinder card rebound

02/04/21

Credit unions are hoping for a return to normal credit card spending patterns sometime during the second half, but the pandemic has created a domino effect of complicating factors.

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GOP adds three senators to Banking Committee

02/04/21

Steve Daines of Montana, Bill Hagerty of Tennessee and Cynthia Lummis of Wyoming are joining the panel for the 117th Congress.

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PayPal's record year helped by rapid rollout of new products

02/04/21

Its success was driven by its support for buying and selling cryptocurrencies, and its entry into the buy now/pay later market.

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SBA nominee to focus on PPP; 'buy now, pay later' programs surge

02/04/21

Isabel Guzman wants the agency to better help minority businesses and underserved communities; volume has jumped by as much as 200% as consumers shop online and eschew credit cards.

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Acting CFPB chief signals tougher stance against redlining

02/03/21

After the agency pulled back on fair-lending enforcement in the Trump administration, interim Director Dave Uejio has made clear his intent to use the “disparate impact” standard to launch more anti-discrimination probes.

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U.S. Bancorp hires wealth management executive from JPMorgan Chase

02/03/21

Scott Ford is the new president of the 1,400-employeee wealth management unit that caters to affluent clientele of the Minneapolis company.

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Lenders embrace property-mapping tech, defying critics

02/03/21

Community banks say Vizaline’s software, which converts property descriptions into images, helps them catch errors before they close real estate loans without resorting to expensive land surveys. But traditional surveyors say the results are of questionable value.

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