BankThink

In an open letter, industry veteran Thomas Vartanian outlines the steps the administration can take to encourage innovation, better detect cyber threats and modernize regulation.

The hurdles faced by Black professionals who break into the financial services belie the notion that their small numbers at the industry’s top ranks are a pipeline problem.

The regulator said banks must make loans to the oil industry based on risk, not politics; three big banks say they will offer advantageous terms on supply-chain finance.

While digital pay innovation was once seen as a “nice-to-have” benefit, it's quickly becoming integral to business survival, says LendingFront's Jorge Sun.

Many employees, particularly women, are likely to become unexpected caregivers at some point. Companies should do more to ease their burden, says a top retirement and wealth specialist at Bank of America Merrill Lynch.

The pandemic has highlighted massive inequalities in American life but the financial services industry can play a role in reducing these divisions.

The algorithms banks use to assess the financial well-being of minorities would be more effective if Black analysts crunched the numbers, says Troynica Green, a data analyst at Regions Bank.

The announcement is met with an unusual rebuke from the Fed, which wants the programs to continue; the deal would allow the companies to approve credit and customize services.

Bankers must identify money launderers and traffickers, and yet although not precluded, the current legal framework actually limits the sharing of data about potential suspicious activity and customers between institutions, says Giant Oak's Gary Schiffman.

More lending regulation and interchange restrictions are on tap, says Intrepid Ventures' Eric Grover.