2020-08-06
Just eight loans had been made as of late July, six of them through a single community bank in Florida, according to new data on the federal rescue program for small and midsize companies hurt by the pandemic.
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2020-08-06
The central bank released new details about FedNow, which officials hope to get off the ground before a 2023 or 2024 target launch date.
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2020-08-06
Regulators found fault with the bank’s cloud migration efforts in the years that preceded a 2019 hacking incident.
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2020-08-06
Credit card balances declined most sharply as consumers cut back their spending due to the coronavirus pandemic and associated shutdown orders, the New York Fed said Thursday.
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2020-08-06
The agency said property owners can enter into new or modified forbearance plans if they have a hardship due to the coronavirus, but the landlords must agree not to kick out renters solely for nonpayment of rent.
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2020-08-06
The digital bank would be sold to Megalith Financial, allowing Customers to focus on commercial lending and letting BankMobile expand more aggressively.
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2020-08-06
The digital bank, founded by a former Western Union president, offers tools to help low- and moderate-income people access their wages early, pay bills and engage in other financial services activities for a monthly fee.
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2020-08-06
The coronavirus pandemic has forced some branches to close, but demand for in-person advice remains strong.
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2020-08-06
The American Dream Down Payment Act would let states establish and manage accounts, which would be similar in structure to 529 college savings plans.
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2020-08-05
Many sellers are ditching the loans to avoid the cumbersome forgiveness process. For others, the Paycheck Protection Program was never a strategic fit.
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2020-08-05
Deferrals on residential mortgages and home-equity loans have been a common theme at JPMorgan Chase, Bank of America, Wells Fargo and Citigroup since the start of the coronavirus pandemic.
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2020-08-05
“We do not yet know when we’ll return to a more traditional operating model,” a company spokesperson said.
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2020-08-05
The e-commerce site and online lender have teamed up to let eBay sellers borrow up to $25,000.
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2020-08-05
Kyle Hauptman is not likely to be confirmed to the National Credit Union Administration board until after Labor Day, though the regulator is not scheduled to meet again until mid-September.
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2020-08-05
The account would complement the existing Community Development Financial Institutions Fund and could be replenished annually if banks and credit unions use the funds to help when natural disasters and other crises occur.
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2020-08-05
An industry coalition wants to ensure borrowers who took out certain types of loans to fund their education aren’t locked out of access to historically low mortgage rates.
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2020-08-05
Tresl CEO Christine Pierson says the specialty finance firm has turned challenges into opportunities during the pandemic, including expanding recruitment nationally since new hires can work from home.
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