BankThink

PenFed CEO: 'Our platform is suitable for all of America'

12/01/20

CEO James Schenck says the institution's military focus means it must provide services for a group of consumers who move every few years. That has helped it focus more on mobile services and less on brick and mortar.

[more]

Protests, CRA revamp, fintechs' payday: The year in banking (Part 2)

11/30/20

Here are 10 more storylines that defined banking in 2020.

[more]

SVB Financial to buy Seattle investment firm

11/30/20

The California company agreed to acquire WestRiver Group in a move that will expand its debt fund business.

[more]

New York mutual seeks commercial bank charter

11/30/20

Though it is unclear why Rhinebeck Bancorp is looking to form Rhinebeck Commercial Bank, other mutual banks have pursued the strategy to work around a state law barring them from working with municipalities.

[more]

CFPB gives go-ahead to firms seeking advisory opinions

11/30/20

The agency finalized a policy allowing companies to submit formal requests for clarification on a regulatory issue. The bureau said it will publish the advisory rulings in the Federal Register.

[more]

What PNC has in mind for BBVA's technology

11/30/20

BBVA USA was one of the first U.S. banks to deploy a real-time core system and to purchase a neobank. Here's what PNC may keep, and what it may jettison, after it acquires the U.S. unit of the Spanish banking giant.

[more]

NCUA bans two for embezzlement, larceny

11/30/20

The regulator issued prohibitions for former credit union employees in Virginia and Connecticut.

[more]

Banks, borrowers bristle at SBA questionnaire on large PPP loans

11/30/20

Lenders are worried that the Small Business Administration could use borrower responses to deny forgiveness for many Paycheck Protection Program loans that exceed $2 million.

[more]

Regulators warn banks against using Libor in new contracts

11/30/20

The OCC, Federal Reserve and FDIC said that a failure to adequately prepare for the transition away from Libor could undermine banks' safety and soundness, but also extended the sunset date for many iterations of the interest rate benchmark to July 2023.

[more]

Are nonbanks likelier to lend to Black, Latino homebuyers?

11/30/20

A new report from California shows that less-regulated mortgage lenders may be doing a better than banks of serving Black and Latino homebuyers. But consumer advocates say the data bolsters the case for tougher supervision of nonbanks.

[more]