News Topic: Wirecard

But Boston Fed chief sees more interest among banks and borrowers if the economy worsens; the failed payments company is being investigated for its alleged role in a $100 million caper. ... Read full article

Restaurants, medical offices and car dealerships were the top recipients of large loans; increased usage of the drive-ups is putting a strain on the low-tech lanes. ... Read full article

Deutsche Bank says it’s on track to meet its financial targets while Commerzbank's top two executives resign; recent Fed stress test results show Euro banks' poor performance in U.S continues. ... Read full article

The Main Street Lending Program is off to a slow start, while the PPP is extended five weeks to distribute the remaining $130 billion in loans; the European regulator is softening its stance to allow more deals. ... Read full article

The company seeks to help funnel more loans to minority businesses and consumers; the regulator says short-staffed banks are having trouble handling new government programs. ... Read full article

The agency wants more timely information on the banks it supervises; investors filed a criminal complaint against Ernst & Young, calling their work “a disaster” for failing to expose the scandal. ... Read full article

The Fed stopped short of banning payouts entirely following bank stress tests; banks get greater freedom to invest in venture capital funds and reduced collateral on swap trades. ... Read full article

The embattled German payments company filed for insolvency, while its former COO is either on the run or looking for the missing $2 billion; the giant asset manager is looking to hire more college graduates rather than poach junior bankers. ... Read full article

Markus Braun turned himself in to Munich prosecutors, who arrested him on suspicion of false accounting and market manipulation; the Wirecard fallout may make it harder for European fintechs to attract investors. ... Read full article

Big banks will need to show how well they can withstand three different scenarios before they can pay dividends; the German payments company is still looking for $2 billion of missing funds. ... Read full article

Loan forbearances are wreaking havoc with firms that normally clean up during recessions; the Fed’s latest rescue plan is off to a rocky start as few banks show interest in making the loans. ... Read full article

Treasury secretary says big firms that took PPP loans should apologize, not just return the money; German fintech’s shares drop 26% as audit fails to rebut accounting fraud allegations. ... Read full article

The bank is the first U.S. one approved for a majority-owned securities unit in China; the FSB said banks must get serious about replacing the benchmark. ... Read full article

The credit bureau will consider borrowers’ rental payment history and professional licenses; bank looks to build business on the other side of the Atlantic. ... Read full article

Third quarter profits at JPM, Wells Fargo and Citigroup got a boost from consumer banking; the company tells Fed it will remain a passive investor. ... Read full article