Coronavirus

Waters urges regulators not to extend reg relief measure

03/10/21

The House Financial Services chair joined other Democrats to warn the federal agencies against further easing of the supplementary leverage ratio, a key capital requirement for large banks.

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Fears of a backlog as PPP deadline looms

03/09/21

Lenders are preparing scores of Paycheck Protection Program applications to secure approval from the Small Business Administration by March 31, but unresolved error codes continue to hinder their efforts.

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Pandemic has redefined role of bankers: New ICBA chair

03/08/21

“We were already shifting to recruiting more problem solvers than people handling transactions,” said Robert Fisher, CEO of Tioga State Bank in New York and incoming chairman of the Independent Community Bankers of America. “That pace of change has accelerated.”

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Megabanks rein in CEO pay. Expect others to follow.

03/05/21

The largest banks have cut compensation or held it steady for their top executives. Many regionals are expected to make similar decisions as boards balance the desire to reward strong leadership during the pandemic with lackluster financial performance and public relations concerns.

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Debt investors step up hotel lending in bet on life after COVID

03/04/21

Credit investors are stepping into a void left by banks and insurance companies and providing debt financing for top-quality hotels in a bet on a post-pandemic recovery, according to a report from the real estate services firm JLL.

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CDFIs, minority-owned banks to get $9B from Treasury for COVID relief

03/04/21

The backing from the Emergency Capital Investment Fund is meant to help financial institutions direct aid to lower-income communities struggling in the pandemic.

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Credit unions dig into data to offset slowdown in lending

03/04/21

Technology is helping some institutions find new growth opportunities as lending contracts, but many CUs also were able to use data to assist members during the early days of the pandemic.

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Credit unions expect hybrid work model after COVID ends

03/03/21

The industry quickly pivoted to remote work once the pandemic hit, but panelists who spoke during CUNA's online Governmental Affairs Conference predicted many institutions will utilize a mix of working from home and in the office once things return to normal.

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Former FDA chief urges rethinking COVID risk metrics

03/03/21

Dr. Scott Gottlieb, a commissioner of the Food and Drug Administration under former President Donald Trump, said during CUNA's online Governmental Affairs Conference that now that many vulnerable populations have been vaccinated, the threat from the virus has lessened somewhat.

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Fed’s Beige Book shows businesses optimistic on vaccine take-up

03/03/21

The U.S. economy expanded modestly in the first two months of the year and sentiment among business owners is picking up as vaccinations bolstered the prospects for economic growth, the Federal Reserve said.

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