BankThink

Is Texas commissioner sending message with de novo rejection?

08/18/20

Observers say the rare denial is rooted in skepticism that a new bank can succeed under current economic conditions and a signal to other proposed banks to hit the pause button.

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Rakuten again withdraws application for bank charter

08/18/20

The Japanese conglomerate first applied for deposit insurance in July 2019 and again in May 2020.

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CFPB proposes a new category of 'seasoned' qualified mortgages

08/18/20

The Consumer Financial Protection Bureau says the proposal would increase access to credit, but consumer groups argue that it will encourage lenders to make high-cost loans while protecting them from legal liability.

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Online lenders reach landmark settlement with Colorado

08/18/20

Under the agreement, fintechs and their bank partners will have a safe legal harbor to offer loans, as long as their interest rates do not exceed 36% and they meet various other standards.

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Why Amex is buying Kabbage

08/18/20

American Express isn't acquiring any loans in its deal for the online small-business lender. Here's what it is getting.

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Chase, Commonwealth to research how tech affects low-income Americans

08/18/20

JPMorgan Chase is funding a two-year initiative in which nonprofit Commonwealth will study the impact of artificial intelligence and other technologies on financially vulnerable Americans.

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Regions Bank's Godin to retire at year-end

08/18/20

Barb Godin, the deputy chief risk officer and chief credit officer at the Birmingham, Ala., bank, is stepping down after a 45-year career in banking.

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Would McWilliams stay on at FDIC if Biden wins?

08/18/20

Jelena McWilliams's term as FDIC chair expires in 2023, and she cannot be removed by an incoming president. But if Joe Biden prevails, he may ask her to stay — and if she does, governing a Democratic-majority board would be a very different proposition.

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Bitcoin ATMs are an oasis in financial deserts

08/18/20

Crypto provides a new tool for underbanked consumers, Marc Grens of DigitalMint writes.

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Kamala Harris pursued banks without earning industry-bashing reputation

08/18/20

Democrats on Wall Street welcomed Joe Biden's choice of running mate Kamala Harris as a sign that party progressives who favor more aggressive bank regulation had been kept at bay. But her track record in the Senate and in state government might give the financial industry pause.

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