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New president of Promontory Interfinancial Network says recession will cause "hundreds" of nonbank disruptors to fail; lenders face dilemma over offering Main Street loans to noncustomers; PNC Financial expands, diversifies executive leadership team; and more from this week’s most-read stories.11h ago
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For all banks' claims that credit unions pose a threat to their commercial lending market share, they've accounted for just 2% of volume in the Paycheck Protection Program.July 10
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However, those who aren't current bank customers need to have $1 million in a qualifying account.July 10
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The panel later this month will vote on the nomination of Judy Shelton, whose views on certain policy issues have met with skepticism from both Democrats and Republicans.July 10
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After tech firms assisted community bankers in processing applications in the Paycheck Protection Program, small-business lenders are continuing to engage with cloud providers and other outside companies to automate the loan forgiveness process.July 10
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Citizens Bancorp Investment has agreed to buy American Bancshares in a deal expected to close later this year.July 10
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A subprime-related settlement between the government and Deutsche Bank provided meaningful benefits to some U.S. consumers in need, according to a new report. But the author acknowledged that those gains could prove illusory for some consumers given the coronavirus crisis.July 10
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The Fed has already eased certain capital requirements in response to the coronavirus pandemic. It should avoid making any further adjustments to the surcharge, which is meant to keep global banks from creating systemic risks.July 10
Assistant ProfessorRoss School of Business
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BNCCORP named an interim CEO as it looks for a permanent successor for Timothy Franz.July 10
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The bank is expected to report a small net profit for the second quarter next week; shareholders are challenging the government's 2012 decision to appropriate nearly all of the agencies' profits.July 10
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Jay Hendricks, the company's chief operating officer, will succeed William Foster in August.July 9
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Several big bank mergers fell apart after the coronavirus hit. But Bryan Jordan, First Horizon's CEO, said the pandemic validated plans to cut costs and invest more in digital upgrades.July 9
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Two state assembly members introduced legislation that would let the California Infrastructure and Economic Development Bank accept deposits from public entities and provide financing to small businesses and local governments.July 9
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Fercho will join Wells Fargo in August and report to Mike Weinbach, the bank's CEO of consumer lending.July 9
