BankThink

Santander Consumer reaches $550M settlement with state AGs

05/19/20

The lender will pay $65 million in restitution and forgive nearly $500 million in auto debt to settle charges that it steered subprime borrowers into risky loans.

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Treasury using prepaid cards to speed delivery of stimulus payments

05/19/20

Nearly 4 million households that were to be mailed paper checks will instead receive their pandemic relief aid via prepaid debit cards issued by MetaBank.

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FHFA close to unveiling capital plan for privatized GSEs

05/19/20

Director Mark Calabria, who abandoned the Fannie and Freddie capital proposal written by his predecessor, said he expects a revised framework to be ready “very soon.”

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JPMorgan's Dimon has no plans to retire following heart surgery

05/19/20

Ten weeks after his emergency procedure, the longtime CEO told shareholders Tuesday that he's in good health and will not be stepping down anytime soon.

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4 takeaways from Senate grilling of Mnuchin, Powell on relief plans

05/19/20

Members of the Banking Committee pressed the Treasury secretary and Fed chief to ensure CARES Act funds are deployed as Congress intended. They also debated the need for more stimulus to ease the economic effects of the coronavirus.

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Alternative data could be lifeline for consumers needing credit

05/19/20

Congress should pass legislation authorizing use of nontraditional data sources to make credit more available to consumers who’ve taken a hit from the coronavirus pandemic.

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The messaging tool that let Happy State Bank take its lending online

05/19/20

The Texas bank is leaning on solutions from Lightico and MANTL to quickly set up accounts and handle loans when customers can’t sign documents in person because of the coronavirus emergency.

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Plaid launches exchange to help banks share data with fintechs

05/19/20

The company's new service is intended to help small banks share account data while avoiding screen scraping.

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Borrowers in forbearance can refinance under certain conditions: FHFA

05/19/20

The Federal Housing Finance Agency clarified that borrowers with Fannie Mae- or Freddie Mac-backed mortgages who have entered into forbearance plans can be eligible for a refi or new purchase once they are considered “current” on their mortgage.

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The fintechs that are pitching in on coronavirus relief

05/19/20

Tilman Ehrbeck, managing partner at Flourish Ventures, a mission-driven venture capital firm that spun out of the Omidyar Network last year, explains how startups like Summer, Propel, Steady and Cushion are helping people cope with debt and cash flow problems.

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