'There will be hundreds of fintech failures'
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Jane Gladstone, new president of Promontory Interfinancial Network, says the recession will accelerate the shakeout among the nonbank disruptors and that small banks have an opportunity to forge new bonds with the survivors.

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Lenders face quandary over offering Main Street loans to noncustomers
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Many big banks say they will focus on existing customers in offering credit through the Federal Reserve's emergency lending program for midsize businesses. Complex vetting and fear of being inundated are said to be among their concerns.

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PNC Financial expands, diversifies executive leadership team
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Less than three weeks after making a $1.05 billion pledge to fight racism, the Pittsburgh company promoted two Black bankers to its top-level management committee.

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Inside Goldman's new corporate banking portal
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The Wall Street firm is jumping into a market dominated by a handful of big U.S. banks, betting that superior technology can lure companies with complex cash-management needs.

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CFPB makes it official, rescinds Cordray-era limits on payday lenders
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The agency delivered long-anticipated regulatory relief to the small-dollar loan industry by eliminating ability-to-repay requirements imposed under the bureau's former director.

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4 takeaways from Biden's embrace of progressive banking policies
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The Democrats' presumptive presidential nominee called for a public credit reporting agency and for the Postal Service to offer financial services, among other proposals issued through a unity task force with Bernie Sanders. But analysts suggest the recommendations are more about electoral politics than pushing for real reforms.

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SoFi applies to open a national bank
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If it's approved, the charter is expected to lower the fintech's cost of funds and allow for more product offerings. It comes nearly three years after SoFi pulled the plug on an earlier effort to open an industrial bank.

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Big banks join fight against new ILCs
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Small banks have long led the campaign against industrial loan companies, arguing they can be used to violate the separation of banking and commerce. But now the industry's heavyweights are also taking a hard line in response to an FDIC proposal that would give tech companies a smoother path into the lending business.

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Dime-Bridge a conventional deal in unconventional times
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The New York-area companies' $489 million agreement runs counter to recent merger pacts built around branch cuts and more tech spending.

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Here's where Wells Fargo is donating its $400M in PPP fees
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The company has established a fund that will provide capital, technical assistance and long-term recovery support to small businesses, especially minority-owned companies. The other megabanks are expected to donate their fees, also.

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