Retail & Commercial

The two companies have worked together to provide a banking app that community banks can implement and deploy in 30 days.

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.

A recent survey by the American Bankers Association found that mobile apps surpassed online banking as the go-to platform for consumers earlier this year, and its popularity has continued to rise since the onset of the pandemic.

While most payment firms consider checking a time-consuming expensive relic for business transactions, one San Francisco-based fintech is going the opposite direction by adding checks to its digital platform.

A group at George Washington University has been working to open a de novo institution to serve students, but the would-be institution faces a variety of hurdles before it can open its doors.

The Term Asset-Backed Securities Loan Facility was brought back to inject $100 billion into the pandemic-battered economy, but only a fraction has been disbursed. Yet experts, pointing to its calming effects on markets, recommend that it be extended into next year.

The median credit score for new mortgages and refinancings climbed to 786 during the third quarter, its highest level in more than two decades, according to a report from the New York Fed.

Technology imperatives, weak loan demand and the need for increased efficiency could put pressure on dozens of regional banks to join forces with rivals.

The Virginia company, which shuttered 14 locations in September, will close another five branches early next year.

The challenger bank will start by recommending how much users should allocate toward savings and spending, and will later transfer those amounts automatically.