BankThink

Bill would create California public bank

07/09/20

Two state assembly members introduced legislation that would let the California Infrastructure and Economic Development Bank accept deposits from public entities and provide financing to small businesses and local governments.

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Wells Fargo hires Flagstar Bank's Kristy Fercho to lead home lending

07/09/20

Fercho will join Wells Fargo in August and report to Mike Weinbach, the bank's CEO of consumer lending.

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Four big banks throw weight behind climate finance center

07/09/20

The new Center for Climate-Aligned Finance will help financial institutions navigate the various challenges involved in the shift to renewable energy — as lenders, power consumers and corporate citizens. Its backers include JPMorgan and Bank of America.

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4 takeaways from Biden’s embrace of progressive banking policies

07/09/20

The Democrats’ presumptive presidential nominee called for a public credit reporting agency and for the Postal Service to offer financial services, among other proposals issued through a unity task force with Bernie Sanders. But analysts suggest the recommendations are more about electoral politics than pushing for real reforms.

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Supreme Court to take up FHFA constitutionality

07/09/20

The high court ruled June 29 that the structure of the Consumer Financial Protection Bureau violated the separation of powers.

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Coronavirus lockdown spurs widespread adoption of digital ID tech in Canada

07/09/20

The coronavirus pandemic has led to a massive surge in Canadians using digital identity authentication platforms to get immediate access to government emergency aid.

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Lenders face quandary over offering Main Street loans to noncustomers

07/09/20

Many big banks say they will focus on existing customers in offering credit through the Federal Reserve’s emergency lending program for midsize businesses. Complex vetting and fear of being inundated are said to be among their concerns.

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SoFi applies to open a national bank

07/09/20

If it’s approved, the charter is expected to lower the fintech’s cost of funds and allow for more product offerings. It comes nearly three years after SoFi pulled the plug on an earlier effort to open an industrial bank.

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Supreme Court grants N.Y. access to Trump taxes, blocks House

07/09/20

The U.S. Supreme Court cleared a New York grand jury to get President Donald Trump's financial records while blocking for now House subpoenas that might have led to their public release before the election.

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U.S. Bank partners with online academy on 'mini MBA' program for teens

07/09/20

The Minneapolis bank's U.S. Bank Foundation is helping Girls With Impact expand its programming to participants in New York City.

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