The Senate Banking Committee met Wednesday to review central bank lending facilities such as the Main Street Lending Program, which provides bank-issued loans to middle-market firms. But some lawmakers on the panel said the focus of pandemic relief has been misplaced.
The bank's innovation group has developed a software tool for law firms. It hopes the project will help it speed products to market and attract top technology talent.
The industry saw small gains in many loan categories during the second quarter, but credit cards declined. A new study from WalletHub shows the biggest quarterly drop in credit card balances in over 30 years.
The final version of the amended rule, like the original proposal, makes fair lending claims tougher to prove; but it does soften language that otherwise might have allowed mortgage companies to use algorithms to prove nondiscrimination.
Bank of Montreal's top executive says it's a "myth" that his company's commercial lending business is taking big risks and argues the bank will come through the recession with fewer loan losses than rivals.
The bank said it found evidence that employees and customers misused several government stimulus programs; the Fed plan may be too restrictive to get banks and borrowers to participate.
A recent victory for Navy Federal opens diversity jurisdiction to federally chartered credit unions, allowing them to more easily bring matters before federal courts.
The Covid-19 pandemic has devastated small (and medium and large) businesses. Closures. Limited hours. Fewer customers.