Commercial lending

Loans to retailers and hotels are at the highest risk of default, the Salt Lake City company said in its second-quarter earnings presentation.

The New York bank has also joined a steering committee helping to develop a global accounting standard that financial institutions can use to measure their impact on global warming.

The OCC is proposing steps for determining which party is the "true lender," which affects how the agency oversees such arrangements.

The report from the commission created to monitor the government's response to the pandemic comes as Congress begins negotiations over another round of stimulus.

On Mar. 31, 2020. Dollars in thousands.

Trump-appointed regulators gave the industry the green light to offer installment loans during the pandemic. But with concerns that the light could turn red in 2021, bankers remain extra cautious.

While rival banks reported increases in loans and deposits, thanks largely to their participation in the Paycheck Protection Program, State Street and Bank of New York Mellon saw their balance sheets shrink in the second quarter.

The Birmingham, Ala., company more than doubled its loan-loss provision from three months earlier and its chief financial officer said that more than half of its loans to oil and gas companies could eventually become criticized.

Treasury Secretary Steven Mnuchin did not define "small," but advocates have been urging Congress to convert all Paycheck Protection Program loans of less than $150,000 into grants.

Bank of America was the latest large bank to report a second-quarter drop in the key earnings metric after a March surge in credit line utilizations gave way to rapid payoffs in May and June.