Fifth Third

A conversation with Greg Carmichael, Chairman, President and Chief Executive Officer, Fifth Third Bancorp discussing the consumer banking trends and lessons learned during the pandemic.

With money flow suddenly stifled for millions of customers, demand for money management tools has skyrocketed.

Lenders are set to flood the SBA with new PPP applications; long nights and weekends the new normal; Fifth Third rethinks new-branch designs in light of coronavirus; and more from this week's most-read stories.

From scams to watch out for to the role banks play in an SBA virus loan program, news about the pandemic's impact was everywhere. Also: As State Farm bows out, U.S. Bank seizes an expansion opportunity; CFPB sues Fifth Third for allegedly opening phony accounts; and more from this week's most-read stories.

Acting Deputy Director Leonard Chanin formerly was a deputy general counsel at the Cincinnati bank that is now in the bureau's crosshairs for allegedly opening unauthorized accounts.

Investors worry the drop in crude prices could spark a rash of defaults; the bank denies it opened accounts without customer permission to meet sales quotas.

The tight labor market and public pressure to raise minimum wages are expected to nudge noninterest expenses upward in a year when the watchword is cost control.

The payments company has loaned $5.5 billion to 275,000 small businesses, thanks to a data-driven process free from human interaction.

Jelena McWilliams knows the value of the FDIC’s role in a way most other Americans do not. Now she's in charge as it grapples with difficult questions and sets out to reshape the industry.

"You can get a lot done if you don't care who gets the credit," Stevens is fond of saying. Judging by the pace of innovation at the $169 billion-asset Fifth Third, that team-first message is clearly resonating.