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Restaurants, medical offices and car dealerships were the top recipients of large loans; increased usage of the drive-ups is putting a strain on the low-tech lanes.
July 7
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Some financial institutions are using emotion AI, which picks up subtle signals over text, audio and video, to help their customer service agents do their jobs better.
July 7
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The court struck down a 2015 update to the Telephone Consumer Protection Act, which permitted robocalls to cellphones for government-related debt collection.
July 6
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BBVA USA in Birmingham, Ala., says it will use a proprietary score based on multiple sources of coronavirus-related information to determine when certain branches are ready for walk-in traffic.
July 6
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Small banks have long led the campaign against industrial loan companies, arguing they can be used to violate the separation of banking and commerce. But now the industry’s heavyweights are also taking a hard line in response to an FDIC proposal that would give tech companies a smoother path into the lending business.
July 6
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The Trump administration released details of almost 4.9 million loans to businesses — from sole proprietors to restaurant and hotel chains — under the federal government's largest coronavirus relief program so far, the $669 billion Paycheck Protection Program.
July 6
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Jane Gladstone, new president of Promontory Interfinancial Network, says the recession will accelerate the shakeout among the nonbank disruptors and that small banks have an opportunity to forge new bonds with the survivors.
July 6
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Banks participating in the Main Street Lending Program were able to register for and offer credit to businesses last month, but the Federal Reserve said Monday it was set to make the effort fully operational.
July 6
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Congress and the FDIC are considering easing limits on banks' holdings of such deposits, a move that could inadvertently lead to more expensive failures.
July 6
Wells Fargo -
Small businesses have been hard hit by the pandemic, meaning commercial lenders are considering how they can better manage risk in this portfolio and make other changes to help.
July 6
