Banking

The legislation would let banks postpone the start date of the Current Expected Credit Losses accounting standard and delay categorizing pandemic-related loan modifications as troubled debt restructurings.

With one study showing consumers racking up additional credit card debt this season, some members may be eager to consolidate their balances in the year ahead.

One engineered a big M&A deal, another struggled with his bank's credit issues and another abruptly resigned. Here are their stories and more.

The bank has been streamlining common activities for commercial clients as part of a yearlong digital transformation.

Underpinning the technology with mathematically sound models can make a better case to consumers and regulators for why a loan applicant was denied.

Neil Gordon, a former executive at nearby Millbury Federal Credit Union, will take the helm next month.

While delinquencies are down thanks to previous government support checks, bank lending is moribund; the two bankers helped the president get $330 million in loans that come due soon.

The legislation allows the Small Business Administration to waive fees and raise the guarantee for 7(a) and 504 loans, which could encourage more small businesses to apply for loans as the economy recovers.

The Consumer Financial Protection Bureau said that the Dallas-based auto lender knowingly supplied inaccurate consumer data to the three major credit reporting agencies.

The consumer bureau said the bank’s migration to a new servicing platform led to unauthorized payment withdrawals, misrepresentations about what borrowers owed and violations of a prior 2015 enforcement action.

Bank of America’s chairman of global corporate and investment banking, Anne Clarke Wolff, is leaving the firm.

Riverside Health System Employees Credit Union has announced plans to merge into the Yorktown-based credit union, which is roughly 100 times its size.

The Oregon bank has launched a new division targeting businesses with up to $15 million in annual sales and tapped the banker who led its Paycheck Protection Program lending, Ashley Hayslip, to run it.

Join Jim McKelvey, co-founder of Square as he offers his insights into where the Fintech industry is headed next year. Will a Biden administration insist on greater regulation? What will happen in the cryptocurrency markets? What will be the big IPOs in the sector? Will GooglePlex make a big splash? What new technologies or applications should we be expecting?

This oldest consumers in this next group are approaching their mid-20s, so financial institutions must tweak their marketing if they hope to reach them in an meaningful way.

International fintech Robocash Group has launched its first Buy Now Pay Later service in the Philippines.