Coronavirus

Bank in West Virginia is closed by regulators

04/03/20

First State Bank, which the FDIC sold to MVB Financial, had struggled with profitability and capital levels for several years.

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Bank in West Virginia is closed by regulators

04/03/20

First State Bank, which the FDIC sold to MVB Financial, had struggled with profitability and capital levels for several years.

[more]

Rescue loan snafu, so long Moven, Fed's Wells dilemma: Top stories of the week

04/03/20

Emergency loan program plagued by chaos on eve of launch; why Moven, one of the first challenger banks, is calling it quits; Fed faces conundrum on whether to remove Wells Fargo's asset cap; and more from this week's most-read stories.

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Ag lenders were already stressed. Then came the coronavirus.

04/03/20

The pandemic could lead to a sharp rise in defaults and loan requests from farmers who have struggled with low prices and the impact of trade wars.

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BofA offers emergency loans to borrowers first, freezing out depositors

04/03/20

The decision sparked outrage from small-business owners who have checking accounts with the bank but not loans or business credit cards. Bank of America started taking applications Friday for a $349 billion program that's intended to offer aid to small businesses suffering from the shocks of the coronavirus pandemic.

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Memo to bankers: Don't attack SBA program, make it better

04/03/20

Yes, the Small Business Administration's emergency funding program for the coronavirus crisis is off to a rocky start, but that shouldn't stop banks from helping customers in need.

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Connecticut bank halts small-dollar loan program due to high demand

04/03/20

The $5.9 billion-asset Liberty Bank in Middletown had set aside $5 million to make small-dollar loans to customers affected by the coronavirus pandemic.

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FDIC extends brokered deposit comment period, citing coronavirus

04/03/20

The agency proposed changes in December to how customer relationships affect the definition of brokered funds, which has big implications for banks that are not well-capitalized.

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Dodd-Frank didn’t build stress testing for coronavirus

04/03/20

Requiring banks to test themselves is likely to be a waste of time in the current crisis, says a former Senate Banking counsel.

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Mortgage servicers teeter near crisis that regulators saw coming

04/03/20

Nonbank financial firms spent years lobbying against tougher regulation and stricter capital requirements, arguing they didn't pose a risk to the financial system. Now, many of those companies say they are in desperate need of a bailout.

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