2020-07-17
The Warsaw, N.Y., bank said it will close 10% of its branches and lay off 6% of its staff in response to customers’ growing preference for remote banking.
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2020-07-17
While rival banks reported increases in loans and deposits, thanks largely to their participation in the Paycheck Protection Program, State Street and Bank of New York Mellon saw their balance sheets shrink in the second quarter.
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2020-07-17
The Mississippi company said it decided to take aggressive measures to reduce its exposure to energy firms.
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2020-07-17
The Birmingham, Ala., company more than doubled its loan-loss provision from three months earlier and its chief financial officer said that more than half of its loans to oil and gas companies could eventually become criticized.
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2020-07-17
Government stimulus efforts, including the Paycheck Protection Program, have fueled a deposit surge. The challenge for banks is figuring out how to put that new money to use.
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2020-07-17
Wells Fargo buys $14B of delinquent mortgages tied to pandemic; CFPB launches investigation of Quicken Loans real estate affiliate Rocket Homes Real Estate; Truist accelerates cost-cutting plans; and more from this week’s most-read stories.
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2020-07-17
Some 60% of Ally’s auto originations in the second quarter were used-vehicle loans, the highest percentage in the company's history.
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2020-07-17
Members of Congress question whether the company is doing enough to protect inexperienced customers engaging in high-risk investing.
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2020-07-17
Treasury Secretary Steven Mnuchin did not define "small," but advocates have been urging Congress to convert all Paycheck Protection Program loans of less than $150,000 into grants.
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2020-07-17
Some 3,400 additional staffers in the treasury management group will be required to get pre-clearance before making trades. The policy change was driven in part by increased regulatory scrutiny, the bank said.
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2020-07-17
This story Cancel Student Loans In Bankruptcy? You May Not Qualify Forbes July 16, 2020 originally appeared
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2020-07-17
This post appeared in the New York Times on 7/17/20
https://www.nytimes.com/2020/07/17/business/dealbook/bankruptcy-filings-...
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2020-07-16
Fintechs like Greenlight and gohenry have drawn millions of teens with features like savings goal tracking and customizable debit cards.
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2020-07-16
The coronavirus relief law allows forbearance plans for up to a year on federally backed mortgages, but House Democrats say homeowners have had difficulty getting relief.
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2020-07-16
The proposed Chicago de novo would focus on serving female entrepreneurs.
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2020-07-16
Bank of America was the latest large bank to report a second-quarter drop in the key earnings metric after a March surge in credit line utilizations gave way to rapid payoffs in May and June.
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2020-07-16
Rho initially focused on startups, but now it’s targeting businesses with 100 or more employees.
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2020-07-16
The North Carolina regional created by the merger of BB&T and SunTrust is saving money by shedding office space and reworking vendor contracts, but it was forced to put its systems integration on hold for up to a year to prioritize tech upgrad
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