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USAA sues PNC over mobile check deposit technology

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The lawsuit follows two successful USAA suits against Wells Fargo that claimed infringement of patents.

(Full story here.)

Deposit glut could dog banks well into next year

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The flood of liquidity that accompanied the pandemic recession isn't likely to subside anytime soon. Banks will have to employ a mix of securities buying, hedging and other balance-sheet-management tricks to prop up margins longer than initially imagined.

(Full story here.)

'Enigmatic' CFPB chief could drop more surprises in a second Trump term

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Kathy Kraninger's job status would be in question if Joe Biden wins the White House. If the president is reelected, she may continue balancing a deregulatory agenda with her unexpectedly tough stance on enforcement.

(Full story here.)

Citi hit with pair of enforcement actions, fined $400M

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Citi hit with pair of enforcement actions, fined $400M
The company's mistaken payment to Revlon creditors and other lapses are said to have contributed to Citi's recent leadership shake-up. On Wednesday, the OCC and Fed ordered the company to fix its risk management problems.

(Full story here.)

Election 2020: Biden tax plan could dent banks' bottom lines

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The industry says the 2017 cut in the corporate rate helped position lenders to support the economy when the pandemic hit. But a plan proposed by Democratic nominee Joe Biden could strain banks' capital investment and hiring, observers say.

(Full story here.)

OCC official: We want to be diversity role model for banks

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Any regulator or bank should build from a foundation of diversity, dignity and respect, says Grovetta Gardineer, the agency's head of national bank supervision policy.

(Full story here.)

Banks urge Fed to revise liquidity rule after pandemic shock

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The industry is warning regulators putting the finishing touches on the Net Stable Funding Ratio that the measure could exacerbate volatile market events like the spring selloff of Treasury securities.

(Full story here.)

What's driving skyrocketing demand for boat, RV loans

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Many consumers are taking to the highways and the water for safe getaways during the pandemic — powering one of the few bright spots in lending. However, bankers warn that boomlets usually come with distinctive credit risks.

(Full story here.)

A 'platform built by us and for us': Black leaders start neobank

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Television executive Ryan Glover, rap star Killer Mike and civil rights icon Andrew Young have launched a digital bank for Black and Hispanic consumers called Greenwood Financial.

(Full story here.)

5 ransomware trends that should alarm banks

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Increases in attacks, escalating money demands and the security challenges of having people work from home are magnifying the threat.

(Full story here.)

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