Banking

Kabbage co-founder Kathryn Petralia, whose company is being sold to American Express, discusses government and financial-sector lifelines she says could help businesses that have been hit hardest by the pandemic.

Financials led the way with a 2.3% gain as the overall stock market rose more than 1.5% Monday; the new service will help small businesses spot online scams.

The West Virginia company has an agreement to buy WinFirst Financial for $21.7 million in cash.

JPMorgan Chase told thousands of office workers across its consumer unit they can plan to continue working remotely until next year, breaking with the firm’s Wall Street operations.

Several institutions were first-time recipients in the latest round of funding, including $2.75 million for Self-Help FCU.

Harit Talwar, the executive who helped guide Goldman Sachs Group’s embrace of Main Street, is giving up his post in a management shuffle at the consumer unit.

The American Association of Bank Directors is setting up an on-the-job training program to help banks reach a younger and more diverse group of prospective employees.

President Trump and former Vice President Biden meet face-to-face this week while Republicans and Democrats push conflicting priorities in Washington.

Better dialogue between banks and authorities coupled with stronger anti-money-laundering measures could help address the suspicious activity report flaws revealed by investigative journalists.

The central bank must engage core processors, community banks and The Clearing House if it wants to move quickly on building out its FedNow system.

The company would also gain a branch near Dallas with the proposed acquisition.

On June 30, 2020. Dollars in thousands.

Johnbull Okpara is currently CFO of the infrastructure groups at Morgan Stanley; the value of distressed properties is being written down by an average 27%, with hotels in the biggest trouble.

While most industry conferences have gone online, a handful of groups are moving ahead with on-site meetings with an understanding that COVID is likely to reduce attendance.

Risking traditional profit generators in return for potential revenues down the line is a gamble many have not been willing to take. But immediate payments are coming to the U.S. whether banks like it or not, says Icon Solutions' Lauren Jones.

As part of American Banker's Most Powerful Women in Banking and Finance program, we have selected five “Top Teams” for 2020. Howard Bancorp is one of the team honorees.

If the Senate confirms Trump's nominee for the Supreme Court, it will cement a conservative majority that will likely decide a variety of fintech issues, including the rules digital payment companies have to follow when providing broader financial services.

Waiting for the SBA to sign off on PPP loan forgiveness; banks criticized for requiring balloon payments on loans in forbearance; how backlash over Scharf remarks affects Wells Fargo’s diversity push; and more from this week’s most-read stories.

Banks' restaurant and hotel clients in many oceanside communities are seeing an uptick in business as travelers opt for short hops over long hauls during the coronavirus crisis. But activity could slow as colder weather approaches.

Russia's largest bank is reinventing itself as a technology company and selling its own consumer electronic devices. Its chief tech officer says the moves are all about developing broader, more enduring customer relationships that the bank controls fully.