Banking

Yes, the Small Business Administration's emergency funding program for the coronavirus crisis is off to a rocky start, but that shouldn't stop banks from helping customers in need.

The $5.9 billion-asset Liberty Bank in Middletown had set aside $5 million to make small-dollar loans to customers affected by the coronavirus pandemic.

The agency proposed changes in December to how customer relationships affect the definition of brokered funds, which has big implications for banks that are not well capitalized.

The proposed Agility Bank would rely heavily on digital offerings. It is pursing a national charter with the Office of the Comptroller of the Currency.

The CEO says he is getting stronger and working remotely; if the lockdown lasts several months, the GSEs may need a bailout, FHFA head Mark Calabria says.

Limiting access to branches because of the pandemic has forced executives to re-examine whether they offer enough mobile and online services.

Regulators point to traditional financial institutions as well-positioned to meet short-term credit needs during the coronavirus pandemic, but there are still a host of questions about whether the industry should try to compete with high-cost lenders.

Many bankers find crucial parts of the SBA effort to help businesses hurt by the coronavirus outbreak to be unclear and onerous. If those issues go unresolved, participation could suffer.

Digital banks outscored brick-and-mortar banks in a recent J.D. Power study of customer satisfaction. However, the survey pointed to shortcomings in call center services, which are in high demand during the COVID-19 pandemic.

The insurance and research company expects the U.S. to fall into a recession as unemployment spikes and the GDP declines.

Like his longtime boss and mentor, Bob Wilmers, Jones is deeply committed to investing in communities, controlling expenses and delivering value for investors. But he also has novel ideas for modernizing M&T, like doing away with its "permission culture," improving the customer journey and positioning it as a go-to bank for tech talent.

The U.K. company has recruited Bruce Wallace, formerly of Silicon Valley Bank, and Ronald Oliveira, who was with AvidBank, to lead its expansion here.

If Capitol Hill plans another round of stimulus, Democrats could have more leverage to demand steps such as suspending overdraft fees – a measure which could have a big impact on credit union revenue.

Lenders can offer deferred payments and capitalize on digital banking to help small businesses and consumers get back on their feet.

Lloyds Banking Group Plc will offer interest-free overdrafts and credit card payment freezes to customers struggling during the coronavirus pandemic, pre-empting the Financial Conduct Authority’s latest measures to help households.

The one-year relief is intended to free up lending to consumers and businesses; the online small business lender not making loans, shrinks credit lines, staff.

The number of deals per year was declining even before the pandemic, and it's unclear when things might pick up again.

If Capitol Hill plans another round of stimulus, Democrats could have more leverage to demand steps such as suspending overdraft fees or placing a temporary cap on consumer lending rates.

The agency said lenders should avoid reporting delinquent payments to credit bureaus for consumers who have sought payment relief due to the pandemic.

For the second time in a week, the National Credit Union Administration has delayed the deadline for public comment on a proposed regulation.