New analysis from S&P shows credit unions near $1 billion of assets and above continuing to dominate the industry's performance in the Paycheck Protection Program as some CUs dedicate a substantial portion of their portfolios to the effort.
Webster Bank and Customers Bank are among the lenders that have turned to alternative data sources and automated loan reviews to assess business customers' ability to weather the coronavirus pandemic.
Senators voted 48-47 to put Christopher Waller on the Federal Reserve Board, concluding a confirmation process that had been dragged out for months because of controversy surrounding a separate nomination for Judy Shelton.
The U.K. banking giant is reportedly mulling an exit from retail banking in the United States. It could attract more interest if it tries to sell its network in pieces instead of looking for a single buyer, analysts say.
Randal Quarles said banks should have used their extra capital cushions to help more during the pandemic; 1% of small business borrowers got 25% of the funds, SBA records reveal.
Visa insists that the Department of Justice, in objecting to its proposed $5.3 billion purchase of Plaid, fundamentally misunderstands the changing role of data in the payments industry.
