Invesments in software can speed up decision-making and help traditional lenders better compete with fintechs for creditworthy customers who want their loans quickly.
A state-backed bank would not be financially feasible because capital requirements would be too high and it likely wouldn’t return profits to the state for at least 30 years, consultants concluded.
Live Oak Bancshares became an SBA juggernaut by making loans, selling them and making more. With economic conditions changing, it is retaining more credits.
Brad Sherman of California and Gregory Meeks of New York are worried the proposed accounting standard for recording loan losses will reduce access to credit for small businesses and low- and moderate-income communities.
Owners of firms that employ only themselves would prefer to use loans or lines of credit, but more often than not they resort to credit cards, according to a new Fed report. Is this a missed opportunity for banks?
CUNA Mutual, a service provider to credit unions, recently bought Mirador, which is heavily dependent on bank relationships. The challenge now is keeping those clients in the fold.
