Measures designed to give banks and credit unions more flexibility to help customers weather the coronavirus pandemic are set to expire Dec. 31 unless Congress renews them.
The Federal Reserve and the Treasury Department released a set of FAQ's aimed to clearing up misconceptions about the Main Street Lending program and encouraging more bank participation.
The competition has leading-edge technology, but consumers may be looking for more than just bells and whistles when choosing where to do their banking.
Citigroup is embarking on hiring 6,000 young people in Asia over the next three years in an effort to help cushion the region from a blowout in youth unemployment.
The San Diego bank first considered finding a buyer two years ago and had offers in early 2019. The price of the deal it finally reached in the throes of the pandemic was much lower than some earlier offers.
Bank of America Chief Executive Brian Moynihan called for another round of federal stimulus to help the U.S. reach a full economic recovery from the coronavirus pandemic.
The results of the latest exams will be released for each of 33 big banks; the Fed will announce by the end of this month if it will cap fourth quarter dividends and prohibit buybacks.
The future of Fannie Mae and Freddie Mac, the Fed’s supervisory regime for the biggest financial institutions, reform of the Community Reinvestment Act and a host of other industry-related issues are on the ballot this November.
