Retail & Commercial

Now perhaps more than ever, banks and their proxies need to show tact when communicating with past-due borrowers.

HSBC is planning to shift services away from its branches in a push to make more of its customers migrate to its digital and mobile channels as it embarks on a massive cost and jobs cutting program.

Deferral periods on scores of commercial loans will soon be ending, and many banks’ profits this year could turn on whether borrowers can resume making payments or will seek extensions.

National Credit Union Administration Chairman Rodney Hood told a NAFCU audience now is the time to take action on the member business lending cap so credit unions can continue to help with the coronavirus recovery.

Titi Cole was recruited away from Wells Fargo to join Citi as head of global operations and fraud prevention. She’ll report to Jane Fraser, the CEO of global consumer banking.

Borrower relief is necessary in a national emergency, but if the exclusion of the deferred loans from troubled-debt restructurings is extended past the end of the year, safety and soundness could be compromised.

Arbor Bancorp and FNBH Bancorp said the pandemic had created uncertainty about the regulatory process for securing approval for the deal.

Despite success lobbying for PPP inclusion and the elimination of Regulation D, the industry must continue to push for additional reforms.

The embattled German payments company filed for insolvency, while its former COO is either on the run or looking for the missing $2 billion; the giant asset manager is looking to hire more college graduates rather than poach junior bankers.

Top executives from Citigroup and Goldman Sachs offered warnings Wednesday about why the U.S. economy may be slow to bounce back from the coronavirus pandemic.