John Reosti is a reporter covering community banks in particular and the financial services industry in general. He also focuses on the Small Business Administration, the National Credit Union Administration Board and issues connected to the CECL accounting standard.
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The pandemic may force the Small Business Administration to rely more on fintechs and digital channels to hasten loan approvals, a shift that could stick.
April 1 -
The Treasury Department and Small Business Administration are responsible for distributing $350 billion in coming months.
March 31 -
Motivated by the entrepreneur and TV celebrity, Citizens Bank of Edmond is offering an overdraft line to give customers quick access to cash they will eventually receive from the federal government.
March 30 -
Lawmakers and regulators opted to delay compliance for banks that have implemented the credit loss standard, sparing them near-term capital hits.
March 27 -
Regulators are allowing banks that implemented the loan-loss standard to forestall any capital hits until 2022.
March 27 -
No online lenders are approved for the agency's traditional programs, but they could make loans under the COVID-19 stimulus package if they get special approval.
March 26 -
Regulators' decision to delay reporting for troubled-debt restructurings should allow banks and credit unions to be more nimble modifying loans impaired by the coronavirus outbreak.
March 23 -
The FDIC's call for FASB to postpone the loan-loss accounting standard's effective date could put pressure on other agencies to follow suit.
March 20 -
FDIC Chairman Jelena McWilliams, citing concerns about the coronavirus outbreak, is the first regulatory chief to call for suspending the accounting standard for expected loan losses.
March 19 -
The FDIC chairman, citing concerns about the coronavirus outbreak, is the first regulatory chief to call for suspending the accounting standard for expected loan losses.
March 19
