BankThink

Why OnDeck is being sold on the cheap

07/29/20

The pioneering online lender had long struggled to live up to the hype that drove its early growth, even before the pandemic pushed it to the brink.

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Banks, credit unions pan OCC idea to create charter for payments firms

07/29/20

Seven trade groups said they would fight any effort by the agency to establish a tailored license for payments providers such as PayPal, Stripe and Square.

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Congress, keep AML reform in the defense spending bill

07/29/20

Legislation that would force transparency around company ownership would be better than another burdensome anti-money-laundering rule.

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Payfone rebrands, buys authentication tech from Early Warning

07/29/20

The company has renamed itself Prove and says that the acquisition will allow it to
help banks fine-tune their security procedures when serving customers.

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How the pandemic is propelling Zelle

07/29/20

The pandemic’s physical distancing requirements appear to have accelerated transaction volume and overall usage of Zelle, the P2P app operated by bank-owned Early Warning Services LLC.

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Intuit QuickBooks adds bank account to its bookkeeping services

07/29/20

The accounting and payroll software provider’s QuickBooks Cash account is fee-free and integrates with other products the company offers small businesses.

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Fed extends emergency lending programs; Visa reports 23% profit hit

07/29/20

The programs, which had been set to expire at the end of September, will now run at least to the end of the year; but U.S. payments volume "meaningfully improved" throughout the quarter

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Senate confirms Wade as FHA commissioner

07/28/20

The housing agency's prior permanent chief, Brian Montgomery, left the position after he was tapped to become deputy HUD secretary.

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Will GOP plan to slash unemployment aid trigger wave of loan defaults?

07/28/20

The enhanced jobless benefits in the coronavirus relief law enacted in March helped limit delinquencies and maintain consumer spending, analysts say. In their follow-up stimulus plan, Senate Republicans want to cut those benefits from $600 to $200 a week.

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Consumer lender Oportun hits pause on debt collections

07/28/20

Many of its borrowers have struggled to make payments since the pandemic struck, so it is helping them by suspending debt collections and capping rates on new loans at 36%.

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