Debt outstanding and loan delinquencies were already at or near record levels before the pandemic hit; the trend toward greater oligopoly has competition watchers worried.
Institutions large and small are either creating new positions or elevating existing diversity heads to C-suite roles. Will the moves help banks improve equality within their ranks and better serve their communities?
A year-old data breach, which earned the company an $80 million OCC penalty this week, continues to offer lessons to banks as they put more sensitive information in the hands of cloud vendors.
At its inaugural hearing, the committee appointed by lawmakers to oversee CARES Act implementation pressed for answers about why the Main Street Lending Program is off to such a slow start.
Why banks want in on Google checking accounts; readying new tech tools to tackle anticipated rise in delinquencies; more institutions opt to sell PPP loans as heavy lifting nears; and more from this week’s most-read stories.
The regulator announced in June it would use call report data from before the crisis to calculate bank assessment fees in September, a one-time change.
Whoever wins the White House in November may have immediate agency openings to fill, while a key decision looms about who will run the Federal Reserve after Jerome Powell’s term expires in 2022.
The firm’s software helps automate digital home loan closings; the OCC said the bank failed to implement adequate risk processes before it transferred its customer data to the public cloud.
