LendingClub, poised to be the first U.S. online lender to buy a bank, says the transaction will be completed in early February now that it has received approvals from the Office of the Comptroller of the Currency and the Federal Reserve.
Former Fed Chair Janet Yellen told senators that as Treasury secretary she would create a “hub” to examine the effects of a changing climate on financial institutions and create a database of companies' true owners as required by a recent anti-money-laundering bill.
Its Marcus unit continues to invest in new products and business lines, delaying its path to profitability, according to Goldman Sachs CEO David Solomon.
The trade group's summer show was expected to be the first major credit union event not to be held exclusively in a virtual format but was cancelled due to the ongoing pandemic.
Now that the data aggregator is no longer joining forces with the card network, it’s on to plan B, which includes developing better relationships with banks.
The Dallas bank says reserves could return to pre-pandemic levels by the end of 2021— a year earlier than analysts were predicting — if vaccines prove effective at slowing the spread of the coronavirus.
If he’s confirmed as director of the Consumer Financial Protection Bureau, Rohit Chopra is expected to move quickly to undo Trump policies and address the pandemic’s impact on consumers. Some experts say he may even get the job on an interim basis before Congress acts.
Chris Hendry has been appointed president and CEO of the Fitchburg, Mass.-based institution, having served the credit union in a volunteer capacity since 2014.
