Several companies said this week they’re slashing expenses as the economy limps along. Others would prefer to keep investing in new technologies and hold off on moves like branch closings to better gauge which changes in consumer behavior will stick.
The agency finally detailed how it may implement congressional requirements to collect information on credit to small businesses. Lenders below certain asset thresholds and that make few business loans could be off the hook.
Two board members for the credit union regulator spoke during a NAFCU event, highlighting liquidity issues, plans for new departments at the agency and more.
A survey conducted by Harris Poll and commissioned by Plaid found that 60% of U.S. adults are using more apps to manage money since the onset of the pandemic.
JPMorgan Chase added a half dozen executives, including Thasunda Brown Duckett, to its operating committee in the biggest expansion of its top leadership group in years.
Originations in the third quarter are on pace to double what the Detroit lender reported a quarter earlier, adding more high-yielding loans to the balance sheet.
Banks are augmenting their use of masks, distance markers and the like with apps to notify employees of exposure to infected individuals and technology meant to make branch visits safer.
The agency’s insurance fund dipped below its statutory minimum last quarter thanks to the rapid rise in deposits, but officials say it should bounce back without a hike in premiums.
