BankThink

After PPP reform, more flexibility but same complexity

06/05/20

Bankers said legislative fixes to the small-business rescue program should help more borrowers secure loan forgiveness, though new demand will likely remain tepid because the process is still extremely cumbersome.

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Waters criticizes OCC chief's comments on stay-at-home orders

06/05/20

Acting Comptroller of the Currency Brian Brooks had suggested states and municipalities should end "indefinite shutdowns" meant to combat the spread of the coronavirus. The Democratic lawmaker said he was going against the public health recommendations.

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Fiserv sees existing credit lines as cure for PPP limitations

06/05/20

The race to provide coronavirus relief for small businesses is opening new routes to fund payments, including underused credit lines.

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Banks must shift focus to thrive in extraordinary times

06/05/20

Past is not prologue, and a successful strategy for becoming a top-performing bank in 2020 is very different than it might have been just six months ago.

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BNY Mellon whistleblower gets $50 million; Citi sees an opening in EMEA

06/05/20

The employee assisted authorities in currency trading investigations that cost the bank $714 million; Citi is eyeing an expansion of its commercial banking ops in Europe, Middle East and Africa as other lenders exit on coronavirus fears.

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States try to help borrowers left out of federal forbearance plans

06/04/20

One criticism of the CARES Act is that it provides relief only to borrowers with government-backed loans. Bills in New York and California would cover the remaining 30% of homeowners.

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No quiet retirement for longtime Webster Financial chief

06/04/20

James Smith, who recently completed his gradual transition out of banking, was spearheading a public-private economic development plan for Connecticut when the coronavirus pandemic hit. The crisis made the need for the plan greater — and the job harder.

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OCC weighing major changes to its technology framework

06/04/20

The agency sought industry feedback on a host of potential changes to ensure that rules are “sufficiently flexible and clear in light of the technological advances that have transformed the financial industry over the past two decades."

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FHA to insure new single-family loans subject to forbearance plans

06/04/20

The policy comes more than a month after a different agency issued similar guidance for loans backed by Fannie Mae and Freddie Mac.

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CFPB proposes rule to facilitate Libor transition for creditors

06/04/20

The Consumer Financial Protection Bureau seeks to address challenged posed by the sunset of the London interbank offered rate at the end of 2021.

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