ABI Blog Exchange

The veteran banker will serve as chief administrative officer, with responsibilities that include strengthening Citi’s data architecture, creating greater consistency in its dealings with regulators and enhancing its efforts to combat money launde

Two years ago, the Tulsa, Okla., bank expanded its Native American casino lending business nationwide. It seemed like a great plan until the coronavirus pandemic struck.

John Dugan says a successful effort by banks to alleviate the economic damage of the pandemic could boost the industry's reputation.

The mobile bank raised $241 million in its Series D round of funding, and expects to receive approval from regulators to become a nationally chartered bank this summer.

Tyrie has advanced Bank of America’s virtual assistant Erica and rolled out easier-to-use digital products that resonate strongly with customers.

The program is intended to aid businesses hit hard by pandemic-induced lockdowns, but lenders are lobbying to have the rules relaxed to help owners of stores and offices damaged by recent riots and looting.

Members of both parties raised concerns that the requirements for participating in the Municipal Liquidity Facility and Main Street Lending Program are too restrictive to benefit smaller localities and certain midsize firms.

The new product, which comes as an earlier partnership with the online lender Kabbage is sputtering, figures to appeal to companies with tight cash flows.

The funds will be used to support housing, job training and aid for small businesses in communities that have been disproportionately affected by the pandemic.