Home purchases in markets outside of cities accounted for some of the San Francisco bank's loan growth. Executives believe this will be a long-term trend because a generous supply of inventory in less populated areas will appeal to buyers. ... Read full article
BBVA USA in Birmingham, Ala., says it will use a proprietary score based on multiple sources of coronavirus-related information to determine when certain branches are ready for walk-in traffic. ... Read full article
Helping their customers adjust to digital banking and pay crushing bills are just a couple of ways community bankers are reaching out. ... Read full article
With stimulus money running out and forbearances set to expire, consumer spending is bound to shrink. That's bad news for business owners and their landlords, the Pittsburgh bank's CEO says. ... Read full article
Two years after a consumer protection law changed how banks and other companies handle customer information, a new proposal aims for more sweeping reforms. ... Read full article
Ezequiel Szafir, CEO of Banco Santander's digital-only Openbank, sees banks of the future looking increasingly like Amazon.com — with online storefronts for financial products. ... Read full article
Titi Cole was recruited away from Wells Fargo to join Citi as head of global operations and fraud prevention. She’ll report to Jane Fraser, the CEO of global consumer banking. ... Read full article
Top executives from Citigroup and Goldman Sachs offered warnings Wednesday about why the U.S. economy may be slow to bounce back from the coronavirus pandemic. ... Read full article
Funds from a certificate of deposit at Berkshire Bank will help fuel lending to minority-owned small businesses. Mellody Hobson explains why merely ‘working on diversity’ is not good enough. And Wells Fargo ties compensation to progress on diversity ... Read full article
Barry Sommers, a former head of wealth management at the New York bank, is the latest high-level hire by Wells CEO Charlie Scharf. ... Read full article
The Los Angeles company said Commerce Mortgage, founded by former bank CEO Steven Sugarman, wasn't a shareholder by the record date for its annual meeting, even though the firm reported a 9.7% stake earlier this year. ... Read full article
The Maryland company said the additions, including a former bank CEO, will strengthen its “overall operational and strategic management." ... Read full article
Executives argue the rollouts will largely focus on new markets and work in tandem with digital banking efforts. ... Read full article
Banks and prepaid card providers have played an unwitting role in scams that have stolen billions of dollars from state unemployment insurance programs, whose payouts soared after coronavirus shut down the economy. ... Read full article
Digital banking has ramped up during the coronavirus lockdown but customers will seek somewhere to go as cities reopen. A branch could provide that safe haven. ... Read full article
Faced with limited growth opportunities and potentially mounting loan losses, banks are getting aggressive — and creative — to boost profits. ... Read full article
Bankers spent Monday cleaning up damaged branches, wondering if their small-business clients will need more emergency aid and contemplating how the racial and economic inequalities highlighted by days of violent protests nationwide can be corrected. ... Read full article
Even after the Fed eased some limitations in April to promote emergency lending, the bank has had to make some “tough choices” to heed the $1.95 trillion growth ceiling set by regulators in the aftermath of its phony-accounts scandal. ... Read full article
Customers' increased use of digital channels during the pandemic could compel the Minneapolis company to rethink its branch strategy, CEO Andy Cecere said. ... Read full article
Forecasts about the pandemic's impact on the mortgage market have grown less dire after forbearance requests by homeowners nearly leveled off in the first half of May. ... Read full article
