BankThink

First Horizon-Truist branch deal delayed due to coronavirus outbreak

04/21/20

First Horizon still plans to complete its merger with Iberiabank on time, CEO Bryan Jordan said during the Tennessee company's earnings call.

[more]

FHFA tries to cut liquidity-strained mortgage servicers some slack

04/21/20

The agency said it is aligning policies for Fannie Mae- and Freddie Mac-backed loans in forbearance so that servicers are only responsible for advancing four months of missed payments.

[more]

Comerica mulls keeping stakes in troubled oil, gas companies

04/21/20

Rather than selling off assets at a steep discount, the Dallas company is considering taking equity positions in energy firms struggling to make loan payments in the wake of collapsing prices.

[more]

Discover takes new approach to fraud as coronavirus drives more online, phone applications

04/21/20

Discover transitioned all of its 8,600 U.S.-based call center personnel to work from home within a matter of days after the U.S. declared a national emergency on March 13. By March 20, Discover had 95% of its agents working from home using a thin-client device to emulate their call center desktops.

[more]

Synchrony's 1Q profits hit by drop in consumer spending

04/21/20

The lender behind the credit cards for Gap, J.C. Penney and other retailers took a large provision for loan losses and abandoned full-year earnings guidance as the nationwide shutdowns tied to the coronavirus pandemic have led to a sharp decline in spending on its cards.

[more]

Behind Wells Fargo's effort to demystify data sharing

04/21/20

Ben Soccorsy, head of digital payments in Wells Fargo’s virtual channels group, explains how the bank's 15 data-sharing agreements with fintechs and aggregators and tools like Control Tower give customers visibility into and control over their financial information.

[more]

Subprime car buyers skip loan payments in sign of trouble ahead

04/21/20

Credit Acceptance Corp., the lender to car buyers with subprime credit scores, warned it's seeing a sharp drop-off in payments as people shift their financial priorities to get through the coronavirus pandemic.

[more]

PPP reload nearing; Treasury eyes blocking stimulus check garnishment

04/21/20

The administration and Congress are said to be close to adding $310 billion to the small business loan program; the department is looking at whether it can prevent banks from seizing government checks.

[more]

Funding for fintech startups: Down but not out

04/20/20

Venture capital investment has plummeted in many coronavirus-ravaged economies, but larger, profitable fintech firms with the right digital products might still score funding.

[more]

Triumph Bancorp in Texas to sell premium finance unit

04/20/20

The Dallas company also reported a first-quarter loss after the coronavirus outbreak caused "significant deterioration" in its economic outlook.

[more]