BankThink

Fintechs OK'd to make emergency small-business loans

04/13/20

PayPal, Intuit QuickBooks Capital and Square Capital have been named direct lenders in the Paycheck Protection Program, and more await the OK. They could be crucial to reaching the smallest firms trying to survive the economic toll of the coronavirus pandemic.

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CFPB paves way for consumers to get stimulus funds via prepaid cards

04/13/20

The Consumer Financial Protection Bureau wants to make it easier for those who lack bank accounts to receive pandemic relief payments authorized by Congress.

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Wall Street puts blame on Calabria for blocking mortgage aid

04/13/20

At issue is whether the U.S. should step in now to save nonbank mortgage servicers to head off damage to the housing market.

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Wells Fargo tells business clients to consider other banks for emergency loans

04/13/20

Just days after the Fed lifted Wells Fargo's asset cap so it could make more Paycheck Protection Program loans, it warned customers its queue is long and they may want to go elsewhere before program funds are exhausted.

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‘Rent strikes’ could wreak further havoc on mortgage system

04/13/20

Tenants have threatened to suspend payments during the pandemic to pressure officials into providing rental assistance, but the effects on multifamily loans would compound concerns about servicers' liquidity and, ultimately, lenders' performance.

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Coronavirus forcing banks to retool summer internships

04/13/20

Reluctant to cancel what have become pipelines for developing talent, banks are delaying start dates or moving programs entirely online.

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Fed stress tests will incorporate 'current events,' Quarles says

04/13/20

The agency's top supervisory official said the Comprehensive Capital Analysis and Review will proceed on schedule, and signaled that the Fed will look at how institutions are responding to fallout from the coronavirus.

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Small banks don't have to take a backseat to fintechs

04/13/20

A combination of digital and cloud capabilities, data gathering and regulatory experience should give smaller banks an edge over nonbanks.

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Banks expect ugly earnings season; treading carefully on PPP loans

04/13/20

Q1 profits expected to drop by nearly 25%, while investment banking revenues could tank much more; many banks have tighter standards than the SBA.

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Amid pandemic, state elected officials become de facto bank regulators

04/12/20

In blue states in particular, governors and attorneys general are taking up the mantle of consumer protection during the coronavirus emergency, effectively adding another layer of regulation to the patchwork of state and federal oversight.

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