Fifth Third

PPP forgiveness, mainframes still mainstream, Marcus's future: Top stories of the week


House forgiveness plan for Paycheck Protection Program loans is better than nothing, bankers say; why some banks still lean on mainframes; what's next for Goldman Sachs's Marcus; and more from this week's most-read stories.


Bank budgeting apps tell story of the pandemic’s impact on consumers


With money flow suddenly stifled for millions of customers, demand for money management tools has skyrocketed.


Prepping for PPP 2.0, new bankers’ hours, rethinking branch design: Top stories of the week


Lenders are set to flood the SBA with new PPP applications; long nights and weekends the new normal; Fifth Third rethinks new-branch designs in light of coronavirus; and more from this week's most-read stories.


Coronavirus, U.S. Bank's opportunism, CFPB sues Fifth Third: Top stories of the week


From scams to watch out for to the role banks play in an SBA virus loan program, news about the pandemic's impact was everywhere. Also: As State Farm bows out, U.S. Bank seizes an expansion opportunity; CFPB sues Fifth Third for allegedly opening phony accounts; and more from this week's most-read stories.


CFPB official will be recused from agency's suit against Fifth Third


Acting Deputy Director Leonard Chanin formerly was a deputy general counsel at the Cincinnati bank that is now in the bureau's crosshairs for allegedly opening unauthorized accounts.


Oil price plunge fans bank fears; CFPB sues Fifth Third on phony accounts


Investors worry the drop in crude prices could spark a rash of defaults; the bank denies it opened accounts without customer permission to meet sales quotas.


The big squeeze: Banks pushed to hike pay at inopportune time


The tight labor market and public pressure to raise minimum wages are expected to nudge noninterest expenses upward in a year when the watchword is cost control.


How Square turns unconventional credit data into loans for tiny businesses


The payments company has loaned $5.5 billion to 275,000 small businesses, thanks to a data-driven process free from human interaction.


PNC on M&A, API call uptick, next in GSE reform: Top stories of the week


The Pittsburgh company is not interested in bank acquisitions, CEO Demchak says; why Citi, Wells, JPMorgan are seeing a spike in API calls; FHFA's Mark Calabria details next steps on GSE reform; and more from this week's most-read stories.


OCC approves Fifth Third’s conversion to national bank


The Cincinnati bank applied in May to convert its Ohio state charter amid an expansion into Texas and Colorado and the completion of its merger with MB Financial.