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The chairman of the National Credit Union Administration spoke candidly about his experiences as a Black man during a panel discussion that touched on issues including race and the pandemic.
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The industry will have to grapple with pressure on net interest margins, interchange income and credit quality, said CUNA Mutual's Steve Rick during a virtual conference.
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The industry's return on average assets has already dropped substantially and there are predictions that could get even worse. Many institutions will have to deal with elevated provisions for loan losses and expense management to survive.
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From student-run branches to courses on credit, budgeting and more, one of the industry's longest-running partnerships is being upended as districts across the country move to virtual learning.
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A report from the trade group, released Tuesday, follows a June resolution from its board of directors recognizing historic, systemic and institutional racism in the U.S.
Ulule is working with Bank of the West to build name recognition. It hopes to collaborate with other banks and credit unions as it vies with larger companies such as Kickstarter and GoFundMe.10h ago4 Min Read
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The new “adverse market fee” for refinanced mortgages resembles steps the companies took to combat the 2008 mortgage crisis. But critics charge it isn’t necessary and will hurt borrowers’ ability to tap into low rates.August 13
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Appearing to support decentralized systems, the acting comptroller of the currency said on a podcast that "the ultimate public ownership of the payment rails is when you have a network, like the internet, of interconnected institutions and computers."August 13
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The federal banking agencies clarified that minor violations of Bank Secrecy Act rules will typically not result in a cease-and-desist order.August 13
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Criticized assets are on the rise, especially in commercial portfolios, and may be the forerunner of a wave of loan losses later this year or next year unless economic conditions strengthen.August 12
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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As the discredited Libor interest rate benchmark enters its last months, some banks are turning away from the repo-based alternative that regulators prefer. What could go wrong?August 12
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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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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
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Covered Care is promising to offer affordable loans to borrowers with credit scores below 700.August 13
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The proposed combination would create a bank with $3 billion in assets in central Virginia.August 13
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Major payment companies have long looked on at cryptocurrencies as too risky to touch, but too tempting to ignore. Mastercard's latest move indicates that the card brands are ready to make a firm pitch for crypto spending.August 13
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Banks and other financial firms say the proposal to reverse restrictions on investment advisers does not go far enough. Meanwhile, investor advocates say it would loosen necessary protections.August 12
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Chargeback requests have surged since the start of the coronavirus pandemic, as airlines have canceled flights, performers have postponed concerts and supply chain disruptions have delayed the delivery of many goods.August 12
