The payments processor will offer banking products to its customers through Goldman Sachs and Citigroup; but Judy Shelton’s nomination remains in doubt.
Buyers say the Federal Reserve's decision to extend the life of a crucial lending facility another 90 days makes it possible for them acquire more PPP loans
Acquirers shelved plans to buy banks this year as the coronavirus became widespread but a combination of factors in the months ahead could spur the confidence to restart those conversations.
Fannie hasn't completed any credit risk transfers to private investors since the second quarter. Some experts worry the decision — likely spurred by the company’s concerns about a recent capital regulation — could put the mortgage giant on unsteady footing.
Thanks to a frenzy of transactions in the past week, 2020 is already the second-busiest year since the financial crisis for deals involving banks, financial technology companies, insurers and asset managers.
The initiative is the latest offshoot of Project REACh, which was developed by the OCC over the summer to bring together bankers, community leaders and civil rights organizers in an attempt to expand access to credit.
The economic fallout from COVID-19 has highlighted systemic concerns about commercial real estate exposure, business debt and short-term wholesale funding, the Financial Stability Oversight Council said in an annual report.
As Congress moves to spur more coin production, banks and retailers are running campaigns urging consumers to empty their piggy banks to get more change into circulation.
