Truist Financial

Fearing protests, banks batten down on Election Day


Some banks and credit unions boarded up branches and closed early in anticipation of unrest tied to the tense presidential race.


Truist boxed in on cost cutting


The North Carolina company had promised regulators not to close large numbers of branches until December. Meanwhile, vendor contracts, leases and other hurdles have made it hard to accelerate efforts to offset a sudden decline in revenue.


What's driving skyrocketing demand for boat, RV loans


Many consumers are taking to the highways and the water for safe getaways during the pandemic — powering one of the few bright spots in lending. However, bankers warn that boomlets usually come with distinctive credit risks.


Truist commits $40M to loan fund aimed at closing racial wealth gap


The fund will support Community Development Financial Institutions that lend to minority- and women-owned businesses. The Charlotte, N.C., company is the latest big bank to make a large dollar commitment focused on alleviating racial and economic inequality.


Truist launches a venture capital unit


The new unit plans to connect the startups it backs, such as the global payments network Veem, with experts at the company who can provide business advice.


Federal overhaul of M&A rules could favor small-bank deals


Justice Department officials have embarked on a rewrite of antitrust policy that could waive certain requirements for community bank mergers and provide fewer advantages to large, out-of-town buyers and banks in urban areas.


Banks prevail in first court decision over PPP fees for agents


A federal judge in Florida ruled that lenders are not required to make payments to borrowers' attorneys and accountants unless they struck upfront agreements to do so. The decision has implications for a slew of related lawsuits.


Banks ramp up child care, home-schooling support for working parents


As their employees continue to navigate the challenges of balancing work and home life during a pandemic, banks are pitching in to offer everything from child care reimbursement to nanny placement to tutoring services.


Truist’s pandemic chatbot could have staying power


Built to respond to borrowers' questions about mortgage deferrals, the bot created by Salesforce is evolving and in the future could schedule appointments, answer questions about new digital products or help with emergencies.


PPP forgiveness plan disappoints, OnDeck fire sale, GSE liquidity: Top stories of the week


Bankers are left wanting after details on PPP forgiveness plan emerge; why OnDeck is being sold on the cheap; Fannie, Freddie to face banklike liquidity standards starting Sept. 1; and more from this week’s most-read stories.