Commercial lending

Asenso Finance and a community development financial institution, the National Asian American Coalition, have developed a loan aimed at borrowers with limited credit histories. The underwriting relies in part on alternative data and borrowers are required to take financial literacy courses.

The Atlanta bank said the deal will accelerate its small-business and commercial and industrial lending while expanding its presence in point-of-sale financing.

A few changes to underwriting rules could result in a huge opportunity for both lenders and minority women who own businesses.

Bank of America is hiring thousands of employees this quarter and investing heavily in talent and technology headed into the new year, CEO Brian Moynihan says.

Business lines south of the border, led by a diversified commercial banking unit, contributed more than 40% of total earnings at Bank of Montreal over the past 12 months. Company executives now see an opportunity in selling wealth management services to commercial clients.

CEO Jane Fraser said the bank isn’t a fan of the idea of simply asking clients to dispose of any so-called brown assets, which would just shift the problem to a new owner.

U.K. authorities expect to recover as much as 2 billion pounds ($2.7 billion) of fraudulent COVID loans over the next year, Chancellor of the Exchequer Rishi Sunak said on Tuesday.

In a semiannual report on trouble spots in the banking sector, the Office of the Comptroller of the Currency raised concerns that banks are taking on too much risk in pursuit of earnings growth.

On Sep. 30, 2021. Dollars in thousands.