At least four pending deals have been canceled since the economy was locked down to slow the pandemic's spread. With banks' market values falling and loan-loss provisions piling up, more terminations are likely.
Forecasts about the pandemic's impact on the mortgage market have grown less dire after forbearance requests by homeowners nearly leveled off in the first half of May.5m ago
Dan Geller, behavioral economist and developer of the Money Anxiety Index, describes how the gauge has spiked and what banks can do about it.5h ago
The Toronto company also said it set aside 232 million this year for U.S. regulatory probes into the bank’s metals-trading practices and costs tied to the wind-down of that business.8h ago
New authentication methods make it harder to fake biometrics, Eric Setterberg of Fingerprints argues.11h agoSystem design engineerFingerprints
The bank is trying to recover millions of dollars in returned deposits. It also has a $14 million loan to the company that allegedly conducted the scheme.May 26
Despite record low mortgage rates, borrowers are having trouble getting loans from wary lenders; the underperforming American unit may be ditched in U.K. bank restructuring.May 26
The SBA and Treasury Department release more guidance on PPP loan forgiveness; Santander Consumer reaches $550M settlement with state AGs; how Wells Fargo's tech chief is managing coronavirus response; and more from this week's most-read stories.
Lawmakers are working to head off a wave of pandemic-related personal credit downgrades. But there are bigger problems with how credit risk is assessed that are harder to solve.
Tilman Ehrbeck, managing partner at Flourish Ventures, a mission-driven venture capital firm that spun out of the Omidyar Network last year, explains how startups like Summer, Propel, Steady and Cushion are helping people cope with debt and cash flow problems.
The agency has freed companies from reporting requirements and provided flexibility on exams to help them deal with COVID-19 fallout. It has also finished other regulatory relief efforts that were in the pipeline before the pandemic hit.
Complaints to the CFPB hit an all-time high, with mortgage servicers getting much of the fire; Frank Bisignano details his priorities as Fiserv’s new CEO; lenders worry they could be stuck with billions in Paycheck Protection Program loans; and more from this week’s most-read stories.
Democrats’ latest proposal to back debt collectors, enable loans for nonprofits and provide other relief could help steer negotiations with the Senate on more stimulus.
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.
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 most-read stories.
The pandemic is taking a toll on tax receipts, leading the central bank to establish a municipal debt facility. Without a turnaround, the consequences for the financial system could be dire.
The central bank’s programs announced since mid-April in response to the coronavirus outbreak match if not exceed the actions it took during the 2007-9 financial crisis.
Chief Legal OfficerRemitter USA and meldCXMay 19
An examination of potential sources of upheaval for the financial industry and ideas on how to adapt.January 9
Tariffs and other macro factors have introduced new uncertainty into international trade.November 29
Recent years have seen a transformation in credit-card customer acquisition. This report explores how consumers are interacting with the new expanse of marketing and acquisition channels and examines where opportunities and threats to issuers may lie.October 23
Digital IDThe idea of a common digital identity for consumers has become more compelling amid the digitalization of the world's economy. Many bank and credit union executives consider it a natural fit, one the industry should be prepared to lead on.August 28