2020-07-24
With the coronavirus pandemic intensifying and hopes for a quick economic recovery fading, banks large and small are reducing headcounts, shuttering branches, shedding office space and generally trying to trim expenses wherever they can.
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2020-07-24
Lenders need to use alternative data as an overlay to traditional underwriting methods to help creditworthy customers in hardship because of the coronavirus crisis.
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2020-07-23
Financial institutions want to protect customers and employees from the coronavirus but are caught in the middle of a politically charged public health debate. The stance taken by the industry’s largest trade group gives them cover.
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2020-07-23
Quantexa, which uses artificial intelligence to detect money laundering and other financial crime, is already being used by HSBC and Standard Chartered Bank.
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2020-07-23
Republican Sen. Mitt Romney of Utah said he will vote against Judy Shelton, one of two Trump administration nominees to the Federal Reserve’s Board of Governors.
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2020-07-23
Longtime executive Christine Lowthian had been serving as interim chief compliance officer at HSBC Bank USA since April.
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2020-07-23
The Ohio company, which has beefed up its loan-loss reserves, raised the possibility of more sales of oil and gas credits and talked up strong retail segments such as its marine and RV loans.
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2020-07-23
CEO Greg Carmichael says the Cincinnati company has cut expenses but will proceed with branch openings in the Southeast and investments in its commercial loan and mortgage origination platforms to lay the groundwork for post-pandemic growth.
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2020-07-23
The CEOs of the credit card lenders Discover and Synchrony are urging Congress to come through with another round of government stimulus so that struggling households can continue paying their bills.
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2020-07-23
Finding loan forgiveness programs and keep-the-change loan paydowns are examples of services startups like Savi, Summer and FutureFuel.io are offering banks to help borrowers manage their monthly payments.
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2020-07-23
Voice and text banking will be embedded in the Minneapolis bank's mobile app through a chatbot assistant that also caters to users with disabilities.
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2020-07-23
The House Financial Services Committee chair vowed to stay focused on the HEROES Act after the panel's top Republican said lawmakers should instead debate bills with bipartisan support.
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2020-07-23
The credit union regulator can accomplish so much more when board members work in a good-faith, fair-minded manner.
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2020-07-23
Nothing like an election year to increase exponentially
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2020-07-22
Many commercial property owners are locked out of existing coronavirus relief by financing terms that bar them from taking new loans. Under a House bill, they would receive government-backed equity investments.
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2020-07-22
Other regionals set more aside for loan losses than the Cleveland bank did in the second quarter, and its ratio of reserves to total loans is slightly lower, too.
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2020-07-22
The Dallas company, which in May terminated a deal to merge with Independent Bank, set aside $100 million for worrisome loans and incurred severance costs after cutting an undisclosed number of positions.
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2020-07-22
Responding to an unnamed bank that had sought the opinion, the regulatory agency issued an interpretive letter clarifying that an institution's custody services can be used for cryptographic keys and other digital currency-related assets.
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