Consumer banking
Consumer banking
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Crypto provides a new tool for underbanked consumers, says DigitalMint's Marc Grens.
August 17 -
This isn’t the first time the industry has faced an influx of funds amid a slowdown in lending, but this instance could prove harder to manage than in the past.
August 17 -
A pilot program that would let banks, credit unions and challenger banks bid to offer financial services within rural and inner-city post offices could be a first step in serving the underbanked while also helping to shore up the U.S. Postal Service's finances.
August 14 -
The Canadian bank is doing something few U.S. institutions have done: build an online hub with tutorials designed expressly to simplify the online banking process for newcomers.
August 14 -
The Massachusetts company, which converted from a credit union to a bank in 2013, is laying off more than 40 employees with a focus on people working in its retail banking operations.
August 14 -
The Pennsylvania company recruited John Montgomery from First Bank in St. Louis to take the helm on Aug. 31.
August 14 -
The executive shuffle at the company continues as Credit Suisse America’s Paula Dominick is hired to replace Mike Roemer as chief compliance officer. It also hired or promoted four line-of-business chief risk officers and an enterprise testing leader.
August 13 -
The Massachusetts company is laying off more than 40 employees with a focus on people working in its retail banking operations.
August 13 -
The proposed combination would create a bank with $3 billion in assets in central Virginia.
August 13 -
As the discredited Libor interest rate benchmark enters its last months, some banks are turning away from the repo-based alternative that regulators prefer. What could go wrong?
August 12 -
The Paycheck Protection Program has masked what has been a year of tepid demand and tightened lending standards. And bankers aren't expecting a rebound anytime soon.
August 12 -
Built to respond to borrowers' questions about mortgage deferrals, the bot created by Salesforce is evolving and in the future could conduct transactions, handle a wide range of queries or help with emergencies.
August 12 -
A public-private partnership that has fewer rules and restrictions than the Paycheck Protection Program would save more small businesses.
August 12 -
The head of the Federal Reserve Bank of Boston said the central bank had acquired stakes in 32 business loans as of Monday, four times the amount from two weeks earlier.
August 12 -
Theorem is marketing its first-ever securitization of unsecured loans. It uses machine-learning technology to gauge the risk of default, a growing concern during the pandemic recession.
August 11 -
The coronavirus pandemic has created major credit issues at the Boston bank and stymied efforts to improve profits, fueling speculation that the onetime serial acquirer could be a takeover target.
August 11 -
Richard Marotta left the Boston company less than two weeks after a goodwill impairment charge contributed to a large quarterly loss.
August 10 -
MatlinPatterson, which once owned more than 60% of the Michigan company, has been paring back its stake in recent years.
August 10 -
The Small Business Administration began accepting applications Monday, but lenders such as JPMorgan Chase are holding off in hopes that Congress will grant blanket forgiveness for smaller Paycheck Protection Program loans.
August 10 -
Somerset Trust in rural Pennsylvania has partnered with RoamHR, a financial platform that assists the self-employed, to add tax-withholding help for contract and temporary workers to the bank's services.
August 10











![“Much of the increase [in loans] has occurred recently, and I expect we will continue to see more activity as more firms are impacted by the pandemic,” said Boston Fed President Rosengren.](https://arizent.brightspotcdn.com/dims4/default/f6fc5c5/2147483647/strip/true/crop/4000x2250+0+208/resize/1280x720!/quality/90/?url=https%3A%2F%2Fsource-media-brightspot.s3.us-east-1.amazonaws.com%2F31%2F24%2F6942fc3a4ec4920c1f2aac8c5926%2Frosengren-eric-bl-081220.jpg)



