Retail & Commercial

Though it is unclear why Rhinebeck Bancorp is looking to form Rhinebeck Commercial Bank, other mutual banks have pursued the strategy to work around a state law barring them from working with municipalities.

Lenders are worried that the Small Business Administration could use borrower responses to deny forgiveness for many Paycheck Protection Program loans that exceed $2 million.

Year to date through Sep. 30, 2020. Dollars in thousands.

A new report from California shows that less-regulated mortgage lenders may be doing a better than banks of serving Black and Latino homebuyers. But consumer advocates say the data bolsters the case for tougher supervision of nonbanks.

Year to date through Sep. 30, 2020. Dollars in thousands.

More lenders and governments should partner with community development financial institutions to ensure aid reaches minority-owned businesses that are the backbone of many neighborhoods slammed by the coronavirus.

The deal will expand the credit union's brick-and-mortar footprint to more than 30 locations across Illinois and California.

HSBC's management is looking at a complete withdrawal from its retail operations in the U.S., although a full exit from other businesses in the country is unlikely, according to a person familiar with the matter.

Community banks that were pushed past key asset limits by the Paycheck Protection Program say they will be unable to shrink their balance sheets back to normal size by the 2022 deadline, especially if there is a new round of rescue aid.

The 5-year-old company, which recently raised $131 million, says its strong growth reflects the timeliness of its mission: helping consumers who live paycheck to paycheck build wealth.