BankThink

IRS blesses tax breaks on forgiven PPP loans after law change

01/06/21

The Internal Revenue Service will allow businesses that got their Paycheck Protection Program loans forgiven to write off expenses paid for with that money, shifting policy after Congress passed new legislation last month.

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Next step in AML overhaul: Simplify SARs

01/06/21

Congress acted first when it freed financial firms from having to disclose the beneficial owners of commercial clients. Now it's time for regulators to further ease anti-money-laundering reporting requirements by freeing them from filing duplicative or unnecessary suspicious activity reports.

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Truist selling its institutional investment businesses

01/06/21

The North Carolina regional has sold an advisory business and has found buyers for two 401(k) bookkeeping operations.

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Truist selling its institutional retirement businesses

01/06/21

The North Carolina regional has sold an advisory business and has found buyers for two 401(k) bookkeeping operations.

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Wall Street Pioneer on the Economy, Leadership and DE&I

01/06/21

If you haven't met Suzanne Shank you should. She is the chair and CEO of Siebert Brandford Shank & Co. LLC, the nation’s largest female-and minority-owned, privately held finance firm, which she started with the legendary Muriel Siebert. Join us in an intimate conversation and hear her perspective on some of the most critical issues of the day.

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Tiny South Carolina credit union is NCUA's first conservatorship of 2021

01/06/21

CO Federal Credit Union, which has $4.5 million in assets and serves just 785 members, was conserved due to unsafe and unsound practices, the regulator said.

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Wells Fargo freed from OCC ALM order; Trump bans Chinese payment apps

01/06/21

While a positive development, the bank is still operating under 10 other enforcement actions; the president said Alipay, WeChat Pay and six other apps pose national security risks.

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Credit union-backed lawmakers among those contesting election

01/06/21

Several members of Congress challenging the result of the 2020 presidential contest received financial support from trade groups that could find themselves in hot water with some constituents.

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SVB chooses to buy rather than build in wealth management

01/05/21

Acquiring Boston Private could put the parent company of Silicon Valley Bank years ahead of schedule in catering to the investment needs of high-tech and biomedical clients, whose industries have thrived during the pandemic.

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CFPB well positioned to oversee fintechs, task force says

01/05/21

A panel appointed by the Consumer Financial Protection Bureau said Congress should consider authorizing the bureau — and not the Office of the Comptroller of the Currency — to issue federal charters to fintech companies.

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