BankThink

Will Biden, Democrats renew push to tax big banks?

01/26/21

A tax that banks successfully opposed throughout the Obama administration was endorsed by the president on the campaign trail and is supported by many prominent Democrats in Congress as a means of funding government spending.

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Synovus raises cost-cutting goal, preaches patience

01/26/21

The Georgia company increased its target for annual expense cuts and new revenue to $175 million from $100 million. But executives warned that low interest rates and weaker mortgage volume, along with a need to invest in technology, will delay some of the bottom-line benefits.

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Top bankers sound alarm: Remote work is starting to grate

01/26/21

Bankers including Mary Erdoes of JPMorgan Chase and Barclays CEO Jes Staley say working from home is at risk of not working anymore.

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Financial Resources FCU completes succession plan

01/26/21

The Bridgewater, N.J.-based credit union promoted Frank Almeida to president and CEO, the final step in process it began when he was hired in 2014.

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BofA, Chase, Wells Fargo pilot service to rein in screen scraping

01/26/21

The three banks have joined others in a program endorsed by The Clearing House that aims to make data-sharing agreements with aggregators like Plaid and Finicity work more effectively.

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Amex upbeat on consumer travel, less so on business

01/26/21

The card brand is betting on homebound consumers' eagerness to get out, but restrictions will need to ease. And corporate spending will take much longer to come back.

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BofA CEO says consumer spending bounce signals pent-up demand

01/26/21

“The economy keeps moving forward and we feel very constructive about the consumer activity,” Brian Moynihan said.

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‘$1 billion is not enough’: Why credit union M&A is poised to accelerate

01/26/21

Intensifying competition from banks could persuade large credit unions — particularly those with more than $1 billion of assets — to join forces in 2021.

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Synchrony buying health care-focused installment lender

01/26/21

The Stamford, Conn., company is acquiring Allegro, a California lender that finances the purchase of hearing aids and other health-related products or services. It’s aiming to capitalize on the rising popularity of point-of-sale lending and a need for more financing options in health care — especially as more Americans turn to high-deductible plans.

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Bank of Hawaii, National Bank Holdings join list of banks closing branches

01/26/21

The companies are reacting to an ongoing shift in customer preferences to digital channels.

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