BankThink

Big banks join fight against new ILCs

07/06/20

Small banks have long led the campaign against industrial loan companies, arguing they can be used to violate the separation of banking and commerce. But now the industry’s heavyweights are also taking a hard line in response to an FDIC proposal that would give tech companies a smoother path into the lending business.

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Trump administration discloses details on $521.5 billion in virus aid

07/06/20

The Trump administration released details of almost 4.9 million loans to businesses — from sole proprietors to restaurant and hotel chains — under the federal government's largest coronavirus relief program so far, the $669 billion Paycheck Protection Program.

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‘There will be hundreds of fintech failures’

07/06/20

Jane Gladstone, new president of Promontory Interfinancial Network, says the recession will accelerate the shakeout among the nonbank disruptors and that small banks have an opportunity to forge new bonds with the survivors.

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Fed to start buying loan stakes in coronavirus rescue program

07/06/20

Banks participating in the Main Street Lending Program were able to register for and offer credit to businesses last month, but the Federal Reserve said Monday it was set to make the effort fully operational.

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Banks are ditching London offices and not just because of COVID-19

07/06/20

With thousands of job cuts likely to follow what's forecast to be the worst recession in three centuries, the tenants of the glass and steel towers that dominate the City of London and Canary Wharf may face an even bigger retreat.

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Repealing brokered deposit law would be a costly mistake

07/06/20

Congress and the FDIC are considering easing limits on banks' holdings of such deposits, a move that could inadvertently lead to more expensive failures.

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German giants tell divergent stories; European banks' U.S. units under pressure

07/06/20

Deutsche Bank says it’s on track to meet its financial targets while Commerzbank's top two executives resign; recent Fed stress test results show Euro banks' poor performance in U.S continues.

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Dime-Bridge a conventional deal in unconventional times

07/05/20

The New York-area companies' $489 million agreement runs counter to recent merger pacts built around branch cuts and more tech spending.

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National Bank in Colorado joins growing list of banks closing branches

07/02/20

The company said its plan to shutter 12 locations reflects "increased client usage of online and mobile banking and a commitment to improve digital banking technology."

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Outsourcing PPP, stress-test fallout, SCOTUS’ CFPB ruling: Top stories of the week

07/02/20

As PPP enters forgiveness phase, some banks see outsourcing as best move; after the Fed’s stress tests, Wells Fargo to cut dividend while other big banks boost capital buffer; Supreme Court strikes down CFPB leadership structure; and more from this week’s most-read stories.

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