BankThink

Congressional scrutiny of PPP grows amid national focus on racism

06/14/20

Evidence suggests some minority-owned businesses can’t access loans, and the Trump administration is under pressure to report borrower demographics. The issue is gaining attention against the backdrop of protests over the George Floyd killing.

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Senate Democrats seek simpler loan forgiveness process for PPP

06/12/20

The lawmakers cited concerns from small businesses that the current application to have coronavirus relief loans forgiven is “especially burdensome, time-consuming, and costly.”

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PNC thinking big, PPP fee fight, FBI's hacker warning: Top stories of the week

06/12/20

PNC open to deal that would boost assets to $700 billion; banks take hard line against accountants seeking fees for PPP referrals; rush to online banking during coronavirus has hackers salivating, bureau says; and more from this week's most-read stories.

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Going the extra mile to help minority-owned businesses weather pandemic

06/12/20

Uwharrie Capital in North Carolina and Valley National in New York used their community connections to seek out small companies in need of loans from the Paycheck Protection Program. They found plenty of them.

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Turkish bank's virtual assistant strikes chord during a crisis

06/12/20

The success of Isbank's Maxi service is a lesson for all banks: Chatbots, with the right training, can provide the kind of human touch customers need in times like these.

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Mom-and-pop shops left holding bag in consumer card disputes

06/12/20

Payments processors are keeping a portion of payments as a reserve against potential disputes between cardholders and merchants. Small-business owners say the practice is eating into their profits.

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Strip FASB of its powers

06/12/20

Lawmakers should go further than their recent criticism of the Financial Accounting Standards Board's loan-loss rule and just hand over its duties to the Securities and Exchange Commission.

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Bank stocks slump on Fed forecast; Quicken going public

06/12/20

Financials drop 8.2% on prediction of low rates through 2022 and dim economic outlook; the largest mortgage originator and a top challenger to traditional lenders has filed what may end up being the year's largest initial public offering.

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Digital banking's explosive growth compounds cyber risks, FBI warns

06/11/20

Mobile banking use has swelled since the pandemic hit, and law enforcement officials expect hackers to target the credentials of digital novices. The FBI stressed the importance of two-factor authentication and ensuring consumers know how to spot fake apps that carry malware.

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House Democrats launch bid to overturn OCC's CRA rule

06/11/20

The lawmakers are attempting to block the regulation reforming the anti-redlining rule under review powers granted to Congress, but the move is largely symbolic with the Senate and White House controlled by the GOP.

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