Banking

With the Paycheck Protection Program likely winding down at the end of the month, many lenders are seeing heightened demand for the Small Business Administration’s 7(a) and 504 loans.

On Dec. 31, 2020. Dollars in thousands.

On Dec. 31, 2020. Dollars in thousands.

The Tennessee bank's deal for Fountain Leasing is set to close this month.

German regulator says the bank still has a lot of work to do on preventing money laundering; at 11%, the percentage of Blacks in mortgage forbearance is double the rate for all borrowers.

Human resources professionals predict that 2021 will be a year of rampant job-hopping as workers who were reluctant to make a move during the pandemic are now reassessing what they want.

Some say Equifax, Experian and TransUnion are too slow to investigate grievances, prompting more complaints to the Consumer Financial Protection Bureau. But the big three say other forces are at work.

Kearny Bank in New Jersey and four other banks were struggling to manage escrow accounts where the rules vary widely between industries and states, so they teamed up on a tech solution.

Kerry Killinger, former CEO of Washington Mutual, says the asset bubbles and increased consumer debt that contributed to his company's failure are reappearing.

The state's Department of Financial and Professional Regulation will reduce assessments by 61% this year because of overpayments in 2020, helping state-chartered credit unions deal with economic fallout from the pandemic.

Biden spending proposal would require banks to report on their business clients to the IRS; Wells, JPMorgan Chase and Citi haven’t resumed offering the property-backed lines of credit.

Incumbents have access to tons of information on consumers, but developing the means to analyze and act on it requires a strategic change, says Icon Solutions' Simon Wilson.

The Texas company kept allowances steady, citing lingering concerns over the pandemic and commercial real estate. Yet it plans to open 25 offices in Dallas after a similar expansion in Houston drove asset and customer growth.

The regional bank has renovated an office tower in downtown Buffalo, N.Y., to house 1,000 technology professionals it's hiring, retrain workers, collaborate with fintechs and overhaul everything from mortgage lending to fighting debit card fraud.

Larissa Thurston, who will also become the Massachusetts credit union's president, will succeed James Garvey, who is retiring.

Mike Butler will also become president of the de novo, which focuses on technology companies and venture capital firms.

The plan would enable lower-income homeowners to take advantage of today’s lower rates; the German bank needs to follow up on its best quarterly results in seven years.

Looming defaults and the potential for heavier regulatory scrutiny have prompted banks to pull back from the sector. Is that a good thing?

The company’s retail banking and auto-lending businesses in the U.S. generated a larger share of overall profits in the first quarter, and Executive Chairman Ana Botín and other executives unveiled expansion plans for both units.

The company, which recently acquired Radius Bancorp, still expects to lose at least $142 million this year and CEO Scott Sanborn did not provide a timeline for profitability. “We’re building this business for the long term,” he said.