2020-05-08
Late approval and delayed access to the Fed’s liquidity facility have forced fintechs to play catch-up in the Paycheck Protection Program.
Read More from: BankThink
2020-05-08
Mortgage lenders impose steep pricing adjustments for cash-out refinancing; bankers fear massive borrower fraud in the Paycheck Protection Program; some worry the coronavirus is giving banks an excuse to spy on employees; and more from this week's
Read More from: BankThink
2020-05-08
The Federal Reserve also said in a supervisory report released Friday that it would conduct stress tests this quarter as planned, taking into account sudden deterioration in the economy brought on by the coronavirus pandemic.
Read More from: BankThink
2020-05-08
The startup, which had already been offering unsecured loans to newcomers to the U.S., is working with technology and banking partners to offer them deposit accounts and debit cards.
Read More from: BankThink
2020-05-08
The pandemic has fostered the distribution of even more bad information on social media. Banks and other companies need to step up to solve the problem — including support of tougher legal restrictions on internet content.
Read More from: BankThink
2020-05-08
Thomas Lopp cited health reasons for leaving Sterling Bancorp less than six months after becoming CEO. Sterling has been dealing with revenue issues after shutting down its biggest lending program over underwriting concerns.
Read More from: BankThink
2020-05-08
Organizers representing five tribes aim to create a financial institution to serve their members.
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2020-05-08
The Independent Community Bankers of America accused the National Credit Union Administration of using the coronavirus outbreak to usher in additional changes without the normal amount of scrutiny.
Read More from: BankThink
2020-05-08
Start thinking bankruptcy now, not later
By NerdWalletMay 5, 2020
Read More from: Shenwick & Associates
2020-05-08
Business owners who took out loans under the Paycheck Protection Program thought converting them to grants would be easy. It’s not.
Read More from: Shenwick & Associates
2020-05-08
Mortgage rates are at record lows, but borrowers hoping to take advantage are running into the toughest loan-approval standards in years.
Read More from: BankThink
2020-05-08
The SBA's long-standing Economic Injury Disaster Loan program has been so overwhelmed with applications that the agency has capped loan sizes; ECB finding few takers for a program in which it pays banks to make business loans.
Read More from: BankThink
2020-05-07
Up to 12% of loans under the $660 billion small-business rescue program could be tied to misleading or completely phony applications, fueling concerns about lenders' potential liability.
Read More from: BankThink
2020-05-07
The U.S. Department of Treasury (Treasury) and U.S.
Read More from: Bankruptcy and Restructuring Blog
2020-05-07
On Thursday April 30, 2020, the Board of Governors of the Federal Reserve Board released a new revised term sheet for the Paycheck Protection Program Liquidity Facility (“PPPLF”). Under the facility, the Federal Reserve Banks will lend to eligibl
Read More from: Bankruptcy and Restructuring Blog
2020-05-07
Frank Bisgnano, who engineered a technology-driven recovery at First Data before it was acquired by Fiserv last year, will shortly take Fiserv's top job as the company forges its coronavirus strategy.
Read More from: BankThink
2020-05-07
Through its partnership with SpringFour, a fintech BMO Harris mentored in 2017, the Chicago bank is referring customers — including many hurt by the pandemic — to reputable nonprofits to help with job training, financial assistance and more.
Read More from: BankThink
2020-05-07
Lenders that scrambled to grant forbearance as the coronavirus pandemic took hold are unsure about the extent of potential losses.
Read More from: BankThink