Coronavirus

This is no time for CRA reform

04/08/20

Community advocates would like to see changes to the 1977 Community Reinvestment Act, but say regulators should suspend such efforts until the coronavirus pandemic has passed.

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Another bank merger is delayed because of coronavirus outbreak

04/08/20

Pinnacle Bankshares and Virginia Bank Bankshares said the move will let each bank focus more on responding to the COVID-19 pandemic.

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Regulators 'full steam ahead' on CRA reform despite coronavirus pandemic

04/08/20

Lenders and community groups say it's a mistake for the banking agencies to move forward during a national crisis. But Comptroller of the Currency Joseph Otting says updated Community Reinvestment Act rules would speed relief to neighborhoods and small businesses.

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Fed eases Wells Fargo's asset cap to allow for more business lending

04/08/20

The Federal Reserve is temporarily altering the growth restriction it placed on Wells Fargo in 2018 so that the bank can make additional loans to small and midsize business that need funding to weather the coronavirus pandemic.

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Fed to give details on midsize business lending this week

04/08/20

The lending facility is for companies with more than 500 employees that are disqualified from the relief program for small businesses and too small for federal loans reserved for larger companies.

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TD has moved 9,500 call center agents home. Some may stay there.

04/08/20

Toronto-Dominion Bank is moving almost all of its call center employees from 15 different U.S. and Canadian cities to their homes in response to the coronavirus.

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Texas bank's leader takes leave after contracting coronavirus

04/08/20

Spirit of Texas Bancshares named an interim CEO for Dean Bass, though the company said he is recovering.

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Congress seeks more SBA funding; FHFA head rejects mortgage servicer fears

04/08/20

Lawmakers want to expand the two-day old small business loan program by another $250 billion; Calabria says nonbanks are exaggerating their financial woes as forbearance claims rise.

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Customers Bank enlists U.K. fintech to monitor its loan portfolio

04/08/20

OakNorth helps banks analyze credit, identify pandemic-related risks and forecast borrower issues before they turn into defaults.

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