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With credit quality suffering due to the coronavirus outbreak, the online business lender faces onerous loan repayments if it can't renegotiate a corporate debt facility.

Read More from: BankThink

2 weeks 21 hours ago

A key Democrat on the House Financial Services Committee, Rep. Carolyn Maloney has a slim lead over a primary challenger, Suraj Patel, a progressive political activist and New York University professor.

Read More from: BankThink

2 weeks 22 hours ago

The movement encouraging investment in banks run by African American management teams gained huge momentum in recent weeks, but a spat between one of those lenders and an activist investor highlights the potential downside.

Read More from: BankThink

2 weeks 23 hours ago

The company’s U.S. chief executive says the primary goal behind the app it rolled out Wednesday is to help customers improve their financial health and avoid overdrafts.

Read More from: BankThink

2 weeks 23 hours ago

Business continuity plans should be used constantly, not just when the crisis is at its peak, says the New York Fed’s head of financial services.

Read More from: BankThink

2 weeks 1 day ago

Whether they take the form of a mobile wallet or a touch-free credit card, contactless payments are poised to take off as consumers — wary of using terminals and ATMs or handing cards back and forth — change their habits.

Read More from: BankThink

2 weeks 1 day ago

Banks are beginning to emphasize soft skills to help employees make “human” connections with customers in an environment of reduced face-to-face contact.

Read More from: BankThink

2 weeks 1 day ago

The Paycheck Protection Program put a premium on speed in processing and funding loans.

Read More from: BankThink

2 weeks 1 day ago

The pandemic and the Black Lives Matter protests have changed the way banks interact with their customers, communities and employees. Here's how.

Read More from: BankThink

2 weeks 1 day ago

A global health crisis. Economic free fall. A reckoning over racism and inequality. We will not be the same after this — and neither will banking.

Read More from: BankThink

2 weeks 1 day ago

The pandemic will accelerate the drive toward a supervision process in which both regulators and banks will need the digital tools that enable sophisticated remote exams. Expect a heightened focus, too, on customers' financial health.

Read More from: BankThink

2 weeks 1 day ago

The coronavirus crisis led to "the greatest acceleration of digital banking in history." Here's what to expect next.

Read More from: BankThink

2 weeks 1 day ago

A new CFPB rule will expedite the forbearance and loss-mitigation process for consumers suffering financial hardship from the pandemic.

Read More from: BankThink

2 weeks 1 day ago

A new CFPB rule will expedite the forbearance and loss-mitigation process for consumers suffering financial hardship from the pandemic.

Read More from: BankThink

2 weeks 1 day ago

Challengers like Joust, Lili and NorthOne that offer banking services to freelancers and small-business owners are getting record levels of new customers as the traditional workforce thins.

Read More from: BankThink

2 weeks 1 day ago

Three banking trade associations told the FDIC that Rakuten Bank America, even after revisions to its earlier application to the agency, would still violate the separation of banking and commerce as well as present consumer privacy concerns.

Read More from: BankThink

2 weeks 1 day ago

Participation in the Main Street Lending Program for midsize companies is partly about public service, but the core business rationale is building "a banking relationship that continues on for some time," the Boston Fed chief says.

Read More from: BankThink

2 weeks 1 day ago

Rather than funnel mortgage and rent payments through consumers, the federal government should instead deal directly with landlords, utilities and banks, suggests Howard Newman, managing partner of Pine Brook Partners.

Read More from: BankThink

2 weeks 1 day ago

A Moratorium on Evictions Ends, Leaving Thousands of Tenants Fearful

Eviction cases are expected to soar in New York City as housing courts reopen and landlords seek to recoup income lost during the pandemic.

A moratorium on evictions that New York State imposed during the coronavirus pandemic expired over the weekend, raising fears that tens of thousands of residents struggling in the worst economic collapse since the Great Depression will be called into housing courts, which reopened on Monday.

Housing rights groups estimate that in the coming days, 50,000 to 60,000 cases could be filed in New York City’s housing courts. In addition, thousands of cases that were already in progress but were paused in March can now resume.

The number of eviction cases expected to be filed reflects the typical caseload in a three-month period, which was the length of the moratorium. But it does not take into account the fallout from the more than one million city residents who have lost their jobs or were furloughed in recent months and whose federal stimulus payments of an extra $600 per week will soon run out, housing advocates say.

A second order issued by the state that shields tenants directly affected by the pandemic expires in late August and could produce an even bigger wave of eviction cases.

Read More from: Shenwick & Associates

2 weeks 2 days ago

Mastercard has agreed to acquire Finicity for a reported price of $825 million, a move the card brand says will strengthen its open banking platform and expand financial services through more real-time access to data.

Read More from: BankThink

2 weeks 2 days ago

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