Credit quality has remained strong at credit unions, but there are hints that some of them — especially the smallest ones — could report lackluster earnings well into next year, according to the National Credit Union Administration's latest intel on ... Read full article
The company's latest report predicted there could be sustained economic pressures well into next year tied to rising coronavirus cases. ... Read full article
Underwhelming participation in the middle-market loan program has forced the central bank to reduce the minimum borrowing amount for the third time, to $100,000. ... Read full article
With the COVID-19 pandemic creating unprecedented challenges for small businesses, American Express has increasingly targeted its investments in that niche. ... Read full article
When both origination and forbearance demand spiked in the early weeks of COVID-19, quick thinking lenders were able to leverage their expertise and tech stacks to respond quickly. ... Read full article
The coronavirus pandemic has turned every industry on its head. For lending, it exposed the need for modernized, fully digital platforms. ... Read full article
Crane Credit Union has taken an Instagram Stories-like approach, while Certified Federal Credit Union is crafting personalized email messages. ... Read full article
The $3.1 billion-asset institution's product will not carry any fees and offers a variable APR. ... Read full article
The industry says the 2017 cut in the corporate rate helped position lenders to support the economy when the pandemic hit. But a plan proposed by Democratic nominee Joe Biden could strain banks’ capital investment and hiring, observers say. ... Read full article
Credit union groups continue to make ad buys for industry-supported candidates in advance of Nov. 3 but recent positive economic news could be short-lived. ... Read full article
The former chairman of the National Credit Union Administration will work with the fintech to broaden its reach in the credit union space. ... Read full article
The central bank's proposal to overhaul the Community Reinvestment Act differs markedly from the OCC's regulation in testing, data collection and other areas. ... Read full article
The Federal Reserve and the Treasury Department released a set of FAQ's aimed to clearing up misconceptions about the Main Street Lending program and encouraging more bank participation. ... Read full article
The Federal Reserve Board will discuss an advance notice of proposed rulemaking on the Community Reinvestment Act at an open meeting. The central bank had previously declined to support an OCC rule overhauling the 1977 law. ... Read full article
Second-quarter figures from the credit union regulator paint a grim picture for many states across a variety of key earnings metrics. ... Read full article
The pandemic and economic downturn upended most institutions' advertising plans for the year, and many credit unions have had to adjust not only their messaging but also the loan products they are promoting. ... Read full article
A new report from the National Credit Union Administration shows how hard the industry was hit during the second quarter as businesses closed and consumer spending dropped. ... Read full article
New analysis from S&P found that only two of the of the top 20 credit unions that participated in the Paycheck Protection Program loans had assets of less than $1 billion. ... Read full article
New analysis from S&P shows only two of the top 20 credit unions that made Paycheck Protection Program loans have assets under $1 billion. ... Read full article
The increased use of technology, along with holistic data points, can eradicate racial and gender disparity for fintech lenders in small business, says Become’s Eden Amirav. ... Read full article
