Banking

For the 44.6 million households who rent, coming into the crisis almost 27% were already paying half or more of their monthly income on housing. That meant they had litte ability to save for an emergency, let alone a pandemic that would cause record job losses.

Compliance can't be a bolt-on solution. It's critical to build it in from the start, across your people, technology and partnerships, says Hummingbird's Joe Robinson.

Highlands Banking would be based in a community near the state's borders with Georgia and South Carolina.

The Oregon company unveiled a sweeping cost-cutting plan that includes more remote work opportunities and up to 50 branch closures.

The company, which shuttered six locations in September, plans to close 14 more branches by the end of this year.

The company will close branches and cut jobs, with plans to reinvest some of the savings into digital enhancements.

The New York State “Bitlicense” will allow customers to use bitcoin to make online retail purchases; Cleveland Fed chief says persistent low rates may encourage risky behavior.

While some institutions have held off on staffing up for new projects, many mission-critical positions at the executive level are still being filled. It may take until well into 2021 before normal patterns return.

The Cleveland company will exit indirect auto lending and close branches so it can devote more resources to mortgages, student loans and other relationship-driven, digital-friendly businesses.

The coronavirus pandemic has spurred more private buyers to acquire senior care homes, and the Oklahoma lender is eager to back them.

State College FCU is seeking member approval to fold into Horizon CU, citing ongoing challenges finding members to serve on its board of directors and supervisory committee.

From pervasive discrimination at work to the dangers of #BankingWhileBlack, Black people in America face serious hurdles when engaging with the financial services. Join us for a panel discussion featuring guests from the upcoming Access Denied: Systemic Racism in Financial Services podcast.

With face-to-face service altered, banks need to improve their data game to build new payment services, says Tealium's Heidi Bullock.

Banks have managed to steer around trouble spots in energy, hotel and mall-related credits. But fears of further deterioration, an eviction wave or more job losses are keeping lenders circumspect.

Quarles says the pandemic revealed flaws in the financial system that have yet to be fixed; big banks will need to have enough funds on hand to meet their needs for a year.

Many credit unions offer youth accounts to help establish early banking relationships, but a new account for kids from the nation’s largest bank has raised the level of competition.

Agility Bank, one of two women-led groups seeking charters, is looking to open next spring.

Weak loan demand, persistently low yields and the continued struggles of sectors such as hospitality and retail are among the myriad lending challenges facing small regional banks.

The Ohio company's new effort will commit $25 million in 7(a) loans, along with fee waivers and financial education.