Banking

The bank worked with TravelBank, a fintech, to offer virtual cards and an app that automatically generates expense reports.

The central bank hopes its plan can lead to a unified standard among all bank regulators; the leak of 2,000 bank suspicious activity reports exposes the need for updated regulations.

The North Carolina bank deployed Finxact's new technology, which runs on Amazon Web Services, to make Paycheck Protection Program loans and will use it next to offer business savings accounts and CDs.

On Jun. 30, 2020. Dollars in thousands.

On Jun. 30, 2020. Dollars in thousands.

BuzzFeed News published its “FinCEN Files,” alleging that large banks ignored reports of suspicious activities and helped launder trillions of dollars; low rates will depress earnings even as credit losses don’t look to be as bad as expected.

Lenders should be subjected to tough reviews of their readiness for economic threats posed by severe weather, required to disclose risks lurking in their portfolios and perhaps forced to set aside extra capital, a government study recently recommended.

The company will shutter a fifth of its locations, while reinvesting some of the savings in its digital banking platform.

A collaboration between the two industries to help voters cast absentee ballots has been approved to continue through the general election.

The competition has leading-edge technology, but consumers may be looking for more than just bells and whistles when choosing where to do their banking.

The San Diego bank first considered finding a buyer two years ago and had offers in early 2019. The price of the deal it finally reached in the throes of the pandemic was much lower than some earlier offers.

The results of the latest exams will be released for each of 33 big banks; the Fed will announce by the end of this month if it will cap fourth quarter dividends and prohibit buybacks.

The future of Fannie Mae and Freddie Mac, the Fed’s supervisory regime for the biggest financial institutions, reform of the Community Reinvestment Act and a host of other industry-related issues are on the ballot this November.

A historic influx of deposits has brought the National Credit Union Share Insurance Fund’s equity ratio close to the point where premiums would be required, but the regulator’s plan is intended to boost it.

Banks reported decent loan growth in the spring and early summer as businesses rushed to draw down credit lines and tap the Paycheck Protection Program. But demand has been muted since, and bankers can only guess when it will pick back up.

Small and midsize banks would pay for access to the Monit app and offer it to small-business clients as an add-on service.

The central bank reiterated its plan to allow inflation to run above 2% for an extent before raising rates; the German bank postpones returning people to its New York City office until next July.

Second-quarter figures from the credit union regulator paint a grim picture for many states across a variety of key earnings metrics.

With only a fraction of the funds allocated being used, Federal Reserve Chair Jerome Powell said the central bank is considering tweaks to the middle-market rescue program in an appeal to lenders wary of taking on added risk.

More than 160 institutions will use the money to help members weather the coronavirus by offering new products and providing help with loan payments.