BankThink

Why Ally Bank built an island on Animal Crossing

10/30/20

The digital bank is on a larger mission to attract younger customers. It's inserting itself into the popular video game in the hope that game players will learn about its products and have fun at the same time.

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Pennsylvania credit unions cheer remote notarization law

10/30/20

The CrossState Credit Union Association continues to work with lawmakers in neighboring New Jersey to get similar legislation passed there.

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Executive order on diversity a predicament for banks

10/30/20

Bankers can either fight the president’s recent order banning diversity training in federal contracts or face reputational risk by complying with it.

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Fed lowers Main Street loan threshold in bid to boost interest

10/30/20

Underwhelming participation in the middle-market loan program has forced the central bank to reduce the minimum borrowing amount for the third time, to $100,000.

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NCUA issues lifetime ban for embezzlement

10/30/20

The National Credit Union Administration issued a prohibition order against a former employee of Members Exchange Credit Union in Mississippi.

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As winter approaches, banks brace for defaults on restaurant loans

10/30/20

Many eateries that relied on outdoor dining to survive the pandemic could see revenues plummet as the weather turns cold.

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OceanFirst takes aggressive stance by selling problematic loans

10/30/20

The New Jersey company reported a quarterly loss after becoming one of the first lenders to liquidate loans harmed by the coronavirus pandemic.

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Proposed Tennessee de novo's organizers hit capital-raising goal

10/30/20

RockPoint Bank is on pace to open early next year. The announcement comes two weeks after Craft Bank became Atlanta's first new bank since 2010.

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China fintech firm Lufax raises $2.4 billion in U.S. IPO

10/30/20

Lufax, which was once among China’s largest peer-to-peer lenders, has morphed into a financial giant offering wealth management and retail lending services.

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Fannie, Freddie profits jump; Amex promises $1 billion for diversity

10/30/20

The two government-owned agencies reaped the benefits of the refi boom while loans in forbearance dropped; American Express says it has achieved 100% pay equity for employees.

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