Retail & Commercial

First Hawaiian and Bank of Hawaii are warning that a global spike in coronavirus cases could stunt the state's momentum and threaten credit quality.

The bureau said two rules related to communications with debtors will go into effect as originally planned on Nov. 30. The agency had previously proposed an extension to consider consumer advocates' concerns about the regulations.

Customers are responding well so far to the Minneapolis bank's May rollout of video appointments with branch bankers.

The Office of the Comptroller of the Currency’s pledge to rescind Trump-era Community Reinvestment Act reforms and work with other regulators suggests that an interagency agreement is within reach. But outstanding issues remain, particularly around the treatment of online banking activities.

Democratic leaders in Congress want to extend the interest rate limit applying to service members to all consumers. Republicans and industry representatives warn such a broad restriction will hamper lenders' ability to price risk.

The digital lender, which bought Radius Bancorp in February, still expects to record a full-year loss partly because of merger-related costs. But its stock price soared Thursday after it reported second-quarter net income of $9.37 million.

Democratic proposals to offer free accounts, restrict overdraft fees and cap interest rates have zero chance of passage. But analysts say lawmakers’ push for products that help consumers is influencing some banks’ decisions to institute reforms on their own.

Borrowers with Paycheck Protection Program loans of up to $150,000 will be able to apply for forgiveness directly through a government portal if their lender opts in. Industry representatives welcomed the move.

Flagstar’s main business is lending to nonbank mortgage lenders, and New York Community Bancorp CEO Thomas Cangemi has a plan for tapping those borrowers to drive loan and deposit growth.

The high cost of living in the state's bigger markets is limiting growth and turning off buyers. CVB Financial and TriCo Bancshares found sellers in the more affordable cities of Visalia and Bakersfield.