BankThink

Customers Bancorp, BankMobile to chart new paths as separate companies

08/06/20

Spinning off its digital bank will allow Pennsylvania-based Customers to beef up its commercial lending and buy other banks. BankMobile, meanwhile, plans to pursue more white-label relationships and perhaps explore its own acquisitions.

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Few companies have tapped the Fed's Main Street program

08/06/20

Just eight loans had been made as of late July, six of them through a single community bank in Florida, according to new data on the federal rescue program for small and midsize companies hurt by the pandemic.

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Fed to have payments service ready 'as soon as practicably possible'

08/06/20

The central bank released new details about FedNow, which officials hope to get off the ground before a 2023 or 2024 target launch date.

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Capital One to pay $80M in connection with massive data breach

08/06/20

Regulators found fault with the bank’s cloud migration efforts in the years that preceded a 2019 hacking incident.

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Household debt falls for first time since 2014

08/06/20

Credit card balances declined most sharply as consumers cut back their spending due to the coronavirus pandemic and associated shutdown orders, the New York Fed said Thursday. But delinquencies also fell across all debt categories, thanks to government and lender relief efforts.

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Multifamily borrowers in forbearance cannot evict tenants, FHFA says

08/06/20

The agency said property owners can enter into new or modified forbearance plans if they have a hardship due to the coronavirus, but the landlords must agree not to kick out renters solely for nonpayment of rent.

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Customers Bancorp in Pennsylvania divesting BankMobile

08/06/20

The digital bank would merge with Megalith Financial to create a new publicly traded company that would offer licensed products and services.

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Rellevate, challenger bank for the working poor, goes live

08/06/20

The digital bank founded by a former Western Union president offers tools to help low and moderate income people.

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There's no replacing the human touch of branch banking

08/06/20

The coronavirus pandemic has forced some branches to close, but demand for in-person advice remains strong.

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Bipartisan bill aims to offer savings accounts for down payments

08/06/20

The American Dream Down Payment Act would let states establish and manage accounts, which would be similar in structure to 529 college savings plans.

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