2020-08-07
A year-old data breach, which earned the company an $80 million OCC penalty this week, continues to offer lessons to banks as they put more sensitive information in the hands of cloud vendors.
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2020-08-07
At its inaugural hearing, the committee appointed by lawmakers to oversee CARES Act implementation pressed for answers about why the Main Street Lending Program is off to such a slow start.
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2020-08-07
Why banks want in on Google checking accounts; readying new tech tools to tackle anticipated rise in delinquencies; more institutions opt to sell PPP loans as heavy lifting nears; and more from this week’s most-read stories.
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2020-08-07
Cypress Trust Co. has requested deposit insurance from the Federal Deposit Insurance Corp.
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2020-08-07
As more consumers do business online, some deposits are being unfairly categorized as brokered, inviting burdensome regulatory scrutiny.
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2020-08-07
The regulator announced in June it would use call report data from before the crisis to calculate bank assessment fees in September, a one-time change.
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2020-08-07
Whoever wins the White House in November may have immediate agency openings to fill, while a key decision looms about who will run the Federal Reserve after Jerome Powell’s term expires in 2022.
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2020-08-07
The firm’s software helps automate digital home loan closings; the OCC said the bank failed to implement adequate risk processes before it transferred its customer data to the public cloud.
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2020-08-06
Spinning off its digital bank will allow Pennsylvania-based Customers to beef up its commercial lending and buy other banks. BankMobile, meanwhile, plans to pursue more white-label relationships and perhaps explore its own acquisitions.
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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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