Retail & Commercial

With only a fraction of the funds allocated being used, Federal Reserve Chair Jerome Powell said the central bank is considering tweaks to the middle-market rescue program in an appeal to lenders wary of taking on added risk.

More than 160 institutions will use the money to help members weather the coronavirus by offering new products and providing help with loan payments.

Congress should pass legislation that would allow Home Loan banks to backstop deposits by local governments at commercial banks and lower the cost of bond financing, two mayors argue.

Several companies said this week they’re slashing expenses as the economy limps along. Others would prefer to keep investing in new technologies and hold off on moves like branch closings to better gauge which changes in consumer behavior will stick.

The agency finally detailed how it may implement congressional requirements to collect information on credit to small businesses. Lenders below certain asset thresholds and that make few business loans could be off the hook.

Two board members for the credit union regulator spoke during a NAFCU event, highlighting liquidity issues, plans for new departments at the agency and more.

The two biggest U.S. banks trimmed expectations for net interest income as low rates and tepid loan growth weigh on revenue.

A survey conducted by Harris Poll and commissioned by Plaid found that 60% of U.S. adults are using more apps to manage money since the onset of the pandemic.

JPMorgan Chase added a half dozen executives, including Thasunda Brown Duckett, to its operating committee in the biggest expansion of its top leadership group in years.

Originations in the third quarter are on pace to double what the Detroit lender reported a quarter earlier, adding more high-yielding loans to the balance sheet.