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A handful of credit unions have embarked on co-location strategies, sharing branch space with coffee shops and other businesses, but the social distancing era may force some institutions to rethink those plans.
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Some institutions have long worked to recruit a diverse workforce and address discrimination but these initiatives have taken on greater importance as protests have highlighted racial inequality.
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Kyle Hauptman is not likely to be confirmed to the National Credit Union Administration board until after Labor Day, though the regulator is not scheduled to meet again until mid-September.
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The account would complement the existing Community Development Financial Institutions Fund and could be replenished annually if banks and credit unions use the funds to help when natural disasters and other crises occur.
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A new report from Access Softek showed at least one in five members are likely to reduce their branch visits once the pandemic ends, though the risk of consumers leaving their credit union entirely may have declined.
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.August 75 Min Read
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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.August 7
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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.August 7
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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.August 6
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As more consumers do business online, some deposits are being unfairly categorized as brokered, inviting burdensome regulatory scrutiny.August 7
CEOAmerican Bankers Association
Most Powerful Women in Banking
The 15 executives selected for our Most Powerful Women in Banking: Next list all have remarkable stories. Over the past year each of them has taken on a major project for their company and produced impressive results. Yet none are older than 40.
Tresl CEO Christine Pierson says the specialty finance firm has turned challenges into opportunities during the pandemic, including expanding recruitment nationally since new hires can work from home.PODCASTS
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Regulators are urging banks to offer small-dollar loans again and lifting existing restrictions on nonbank lenders. But the real challenge is making those loans favorable to consumers without losing money.July 29
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While most of the public attention has been on Joe Biden's lead in presidential polls, any true overhaul of the bank regulatory landscape hinges on whether Democrats can retake the Senate — and by what margin.July 15
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Jamie Warder, head of digital banking at KeyBank, says alliances with companies like HelloWallet have helped him and his team adapt to changing conditions during the coronavirus crisis.July 21
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Fraudsters are attempting to intercept stimulus checks, set up bogus charities and defraud applicants for unemployment benefits. Mike Litt, consumer campaign director of U.S. Public Interest Research Group, discusses what can be done to stop them.May 12
More from American Banker-
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.August 6
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Regulators found fault with the bank’s cloud migration efforts in the years that preceded a 2019 hacking incident.August 6
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The digital bank would be sold to Megalith Financial, allowing Customers to focus on commercial lending and letting BankMobile expand more aggressively.August 6
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The American Dream Down Payment Act would let states establish and manage accounts, which would be similar in structure to 529 college savings plans.August 6
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The e-commerce site and online lender have teamed up to let eBay sellers borrow up to $25,000.August 5
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