BankThink

Should banks be worried about skyrocketing fintech valuations?

10/26/20

Speculation is part of the reason for the growing differential in market capitalization between legacy financial institutions and upstarts. But one venture capitalist says it's "a call to action" for traditional banks to match fintechs' all-digital, customer-friendly services.

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Agenda is full for ABA’s new chairman, but it all starts with COVID

10/26/20

The Paycheck Protection Program and encouraging digital innovation are top priorities for James Edwards, CEO of United Bank in Georgia. He also expects the American Bankers Association to promote diversity and regulatory reform in the next year.

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Credit union members' Prime Day spending up 51%: CO-OP

10/26/20

The payments company reported a substantial increase in both credit and debit card usage for the annual shopping event as the pandemic has made consumers even more comfortable with online purchases.

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Amex sweetens premium card rewards, again, with new Uber perks

10/26/20

American Express Co. boosted the perks on some of its premium cards once again as the card issuer tries to keep a lid on attrition during the coronavirus pandemic.

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OCC chief says agency is close to proposing new CRA scoring benchmarks

10/26/20

The agency's May rule modernizing the Community Reinvestment Act had deferred action on establishing numeric metrics for meeting the law's requirements, but acting Comptroller of the Currency Brian Brooks said banks will soon get more clarity in a follow-up proposal.

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Lake Trust Credit Union to buy branch from Mercantile Bank

10/26/20

The deal will expand the credit union's reach into western Michigan at a time when a growing number of banks are trimming their networks.

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Heavy demand for fast payments in small banks' trial run

10/26/20

A California startup and a century-old Missouri bank, which began using The ClearingHouse's real-time payments network this summer, say businesses have embraced the technology to pay suppliers and gig-economy workers and quickly close real estate deals.

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Week ahead: PPP bill in Congress and surprise NCUA meeting

10/26/20

A recently introduced bill concerning the Paycheck Protection Program loans could hint at what lawmakers will focus on when the House and Senate reconvene next month.

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Bank of America invests in three more minority-focused lenders

10/26/20

Bank of America made three more investments in minority-focused lenders, bringing its total to 10 in the past two months.

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Two Ohio credit unions set to merge by end of October

10/26/20

Members of First Choice Community Credit Union will have access to mobile banking and other products once the institution becomes part of Credit Union of Ohio.

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