Retail & Commercial

Felix Todd, formerly of Regions Financial, says "the excitement is authentic" at the New York community development bank, which has a reputation for being both innovative and purpose-driven.

Affirm Holdings, which provides installment loans to online shoppers, is seeking to raise up to $934.8 million in an initial public offering, signaling last year’s record listings run is carrying over to 2021.

The CFPB issued two rulemakings in 2020 that the financial services industry and consumer advocates hoped would finally clarify key issues over how collectors contact debtors and deal with legacy debts. But both sides want the incoming Biden administration to make further changes.

Stimulus payments and deferrals have helped borrowers stay current, but lenders must brace for a capital hit when those benefits eventually run out.

The recent stimulus law’s relief for renters and extension of the federal eviction ban were meant to ward off a housing crisis. But owners of 1- to 4-unit dwellings still face mounting mortgage and property tax debts, and delinquencies could start rising soon — followed by foreclosures.

Silvergate and Avanti are among the banks pioneering the incorporation of smart contracts, cryptocurrencies and other cutting-edge instruments into mainstream financial services.

Brian Argrett, whose City First Bank is being sold to Los Angeles-based Broadway Financial, would take the helm of the combined company at a time of increased national interest in reinvigorating minority-owned financial institutions.

PayPal’s Venmo has launched a new “Cash a Check” feature on its mobile app to some customers. The offering is made in partnership with Ingo Money and its parent, First Century Bank.

Inside Wells Fargo, managers say they intend to build a more commensurate presence on Wall Street, where the firm ranks a mere ninth in capital markets and deal advisory, by focusing on business lines and industries where it already has credibility.

On Sep. 30, 2020. Dollars in thousands.