Daily Edition

Daily edition for October 30, 2020.

The effort is the first offshoot of Project REACh, which is designed to bring together business leaders, government officials and advocates to help improve financial services options for disadvantaged communities.

Earlier this year, the Southern California credit union was criticized for its directors not representing the demographics of the communities it serves.

The agency’s final rule modernizing the Fair Debt Collection Practice Act limits calls to seven per week, but collectors won stronger protections from liability claims and other key changes to the original proposal.

Banks and Paycheck Protection Program recipients are caught in a bind between two SBA rescue programs; SoFi gets preliminary OK on bank charter, launches credit card; HSBC vows to ‘accelerate’ U.S. cost-cutting plan; and more from this week’s most-read stories.

The digital bank is on a larger mission to attract younger customers. It's inserting itself into the popular video game in the hope that game players will learn about its products and have fun at the same time.

The CrossState Credit Union Association continues to work with lawmakers in neighboring New Jersey to get similar legislation passed there.

Bankers can either fight the president’s recent order banning diversity training in federal contracts or face reputational risk by complying with it.

Underwhelming participation in the middle-market loan program has forced the central bank to reduce the minimum borrowing amount for the third time, to $100,000.

The National Credit Union Administration issued a prohibition order against a former employee of Members Exchange Credit Union in Mississippi.

Many eateries that relied on outdoor dining to survive the pandemic could see revenues plummet as the weather turns cold.

The New Jersey company reported a quarterly loss after becoming one of the first lenders to liquidate loans harmed by the coronavirus pandemic.

RockPoint Bank is on pace to open early next year. The announcement comes two weeks after Craft Bank became Atlanta's first new bank since 2010.

Lufax, which was once among China’s largest peer-to-peer lenders, has morphed into a financial giant offering wealth management and retail lending services.

The two government-owned agencies reaped the benefits of the refi boom while loans in forbearance dropped; American Express says it has achieved 100% pay equity for employees.