BankThink

How Wells Fargo's tech chief is managing coronavirus response

05/18/20

Saul Van Beurden's team is tasked with keeping systems running during the pandemic, including driving equipment to homebound workers. Yet the bank must continue making upgrades demanded by regulators, investing in new technology and recruiting top talent, he says.

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Fed muni program open for business

05/18/20

Kent Hiteshew, who was recently hired by the Fed to help with the municipal market, said the Municipal Liquidity Facility opened Monday.

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Amex CEO says most employees will work remotely for the year

05/18/20

American Express Chief Executive Steve Squeri said a majority of the company’s employees will work remotely through 2020 as it seeks to slow the spread of the coronavirus.

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Bankers expect recession to last into 2021

05/18/20

Bracing for a prolonged economic slowdown, many community bankers say they are considering a number of belt-tightening measures, including freezing salaries and delaying investments in technology and product development, according to a survey by Promontory Interfinancial Group.

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N.Y. targets loan website that even confused Mnuchin

05/18/20

A small Texas company that profits from loan applications is using a web address so similar to the Trump administration's portal for small businesses that even Treasury Secretary Steven Mnuchin pitched the wrong one when outlining a pandemic-aid program.

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Biden's Wall Street pals think they have his ear despite snubs

05/18/20

Wall Street's Democratic insiders, who have been cutting checks and winning access for decades, say they have plenty of sway in the former vice president's orbit, despite his very public wooing of the progressive left.

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My experience shows why CRA reforms are necessary

05/18/20

Operation HOPE Chief Executive John Hope Bryant talks about how the Community Reinvestment Act influenced him at the age of 9 and eventually led to the founding of his nonprofit, which works with banks to help communities in need. But he says the 1977 law is outdated.

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PPP set for revisions; Berkshire Hathaway unloads Goldman shares

05/18/20

The program would give small businesses greater flexibility on how they use loan proceeds; Warren Buffett’s company dumped 10 million of its nearly 12 million shares in the bank.

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PPP lending helps brand-new bank get off to promising start

05/17/20

Triad Business Bank in North Carolina, which opened in March, has made $106 million in Paycheck Protection loans.

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Virginia community bank cuts 12% of its staff

05/16/20

New Peoples Bankshares said the layoffs were necessary because of the coronavirus pandemic and "a changing financial services industry."

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