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Big banks call for blanket forgiveness of PPP loans under $150,000
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The changes being sought would benefit both small businesses and banks, which would avoid the cost of servicing many low-yielding loans.

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Wells Fargo struggling to stay under asset cap amid pandemic, CEO says
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Even after the Fed eased some limitations in April to promote emergency lending, the bank has had to make some "tough choices" to heed the $1.95 trillion growth ceiling set by regulators in the aftermath of its phony-accounts scandal.

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Banks enter era of 'no regrets' cost cutting
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Faced with limited growth opportunities and potentially mounting loan losses, banks are getting aggressive — and creative — to boost profits.

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Swept up in civic unrest, banks confront deep societal issues
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Bankers spent Monday cleaning up damaged branches, wondering if their small-business clients will need more emergency aid and contemplating how the racial and economic inequalities highlighted by days of violent protests nationwide can be corrected.

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The write-downs are coming. Start preparing now.
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Periods of significant loan defaults are tough on banks and force unpleasant choices. Here are steps to evaluate collateral in such uncertain times.

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The fresh ideas that inspired Bank of the West's digital makeover
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Many of the cultural changes instituted by Hisham Salama, one of American Banker's 2020 digital bankers of the year, have led to a more agile tech team and higher customer satisfaction scores.

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Credit card lenders clamp down to mitigate coronavirus risk
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Since March, issuers have tightened their criteria for opening new accounts and closed millions of existing ones in hopes of avoiding waves of defaults.

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'Aha' moments are David Tyrie's job at BofA
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Tyrie has advanced Bank of America's virtual assistant Erica and rolled out easier-to-use digital products that resonate strongly with customers. Those achievements have earned him recognition as one of American Banker's digital bankers of the year.

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Karen Peetz to join Citi in newly created role
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The veteran banker will serve as chief administrative officer, with responsibilities that include strengthening Citi's data architecture, creating greater consistency in its dealings with regulators and enhancing its efforts to combat money laundering.

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Coronavirus still a threat to credit scores despite congressional relief
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The rescue bill enabled banks to protect loans in forbearance from an immediate hit to a borrower's credit report, but experts say affected consumers may have trouble getting loans after the pandemic ends.

(Full story here.)

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