A public-private coalition, including Citigroup and disability advocates, is testing financial literacy strategies in New York City that they hope will be used nationwide to improve the financial lives of Americans with disabilities.
The Pew Charitable Trusts has released a set of 10 standards for banks and credit unions that want to offer small loans to subprime customers. Among its ideas: keep monthly payments at or below 5% of the borrower’s paycheck and make loans available quickly through digital channels.
Strong policies against sexual harassment appear to be a factor in shielding banks from the public shamings that have occurred in other industries, but even they know they can’t get too complacent. Some are ditching old training sessions and trying new things like coaching witnesses on how to report demeaning behavior.
Citizens Financial, Regions and SunTrust reported strong gains in consumer banking, including loans made through partnerships with retailers and fintech lenders. They want to keep it up to compensate for slack in commercial lending.
Dueling blockchain stories — one arguing it was virtually useless, the other saying it could change real estate lending — seized the top spots this week, while readers also focused on tax reform aftermath and a key Senate retirement.
Banks have been in full cost-cutting mode in recent years, but with profits expected to increase substantially as a result of tax reform, all analysts and investors want to know is how they plan to spend their tax savings.