Banking

The Small Business Administration’s sluggish pace in forgiving the biggest Paycheck Protection Program loans is straining relations between banks and some borrowers.

The National Credit Union Administration changed course late last year and proposed changes that would in effect give members more time to resolve overdrafts. However, consumer activists and even some credit unions say the proposal falls short.

The two companies are the first banks to sign on to a philanthropic initiative from the asset manager BlackRock. The aim is to test ideas that make it easier for more households to establish financial safety nets.

Charlotte Cash will step down from CommonWealth One Federal Credit Union in Alexandria, Virginia, and Glenna Jarvis plans to leave her position at Missouri Central Credit Union in Lees Summit.

Banking Committee Chair Sherrod Brown told acting Comptroller of the Currency Michael Hsu that the cryptocurrency firms approved to operate national trusts under prior agency leadership “seek access to the benefits of a bank charter” without meeting certain regulatory standards.

The Massachusetts bank, which traditionally In contrast to its typical strategy of supporting low-income housing, the invested $500,000 in CEI Ventures’ Coastal Ventures V fund to support small businesses in disadvantaged communities.

It is time for banks to figure out their role in the future financial ecosystem to avoid becoming a casualty of the creative destruction process.

How digital capabilities are supporting small business operations amid disruption

The crash came after China’s central bank warned financial institutions about accepting digital currencies as payment; ComplyAdvantage uses machine learning to ferret out potential risks.

Only 0.9% of mortgage borrowers are currently at least 90 days delinquent. That figure could rise as high as 3.8% once pandemic-related deferrals lapse — still well below the 6% mark reached after the Great Recession, according to research by the New York Fed.

The target is among the top-performing banks in Utah and the only bank in a five-state region with assets between $3 billion and $10 billion.

The $1 billion bond, which follows similar issuances by Citigroup, JPMorgan Chase, Bank of America and Truist Financial, gives a big role to broker-dealers owned by minorities, women and disabled veterans.

Co-leaders Marianne Lake and Jennifer Piepszak are now seen as the main potential successors to CEO Jamie Dimon; the pay raise, from $20 currently, would take effect by 2025.

Peeyush Nahar, who also spent 14 years at Amazon, brings both Big Tech and startup experience to a consumer-banking unit that has lost several senior leaders in recent months and faces challenges common to entrepreneurial divisions within large organizations.

The Springfield, Virginia, credit union named Scott Benson, its chief operating officer, to succeed Lynette Smith as chief executive.

Instead of injecting cash into Commonwealth National Bank, Regions Bank is taking a more targeted approach: providing funding for the community development financial institution to hire a commercial banker.

Michael Moeser, senior analyst at PaymentsSource, talks to Dustin Eide, CEO of CanPay, about payments innovation in the legalized cannabis industry.

The maker of software that helps banks offer "buy now, pay later" loans at the point of sale says its latest funding round has pushed it into unicorn status.

The executive faces a tall order in meeting loan balance and deposit goals at the online consumer bank; Warren Buffett’s firm sold 99% of its leading stake in the bank in the first quarter.

The agency issued a request for information to gather feedback about how institutions facilitate use of cryptocurrencies and other kinds of assets, and what factors regulators should weigh as they develop supervisory policies.