Banking

A pandemic-driven surge in bank deposits helped drive the agency's insurance reserves below their statutory minimum.

Bank of Montreal's top executive says it's a "myth" that his company's commercial lending business is taking big risks and argues the bank will come through the recession with fewer loan losses than rivals.

The bank said it found evidence that employees and customers misused several government stimulus programs; the Fed plan may be too restrictive to get banks and borrowers to participate.

Many of the changes on the horizon were inevitable, but the pandemic has accelerated the shift to digital payments and finance, forcing banks to reevaluate their models and pivot toward faster technology adoption.

Bankers and fintech executives want lawmakers returning to Washington to focus on streamlined forgiveness and a second round of Paycheck Protection Program loans for small businesses.

Only one of the 118 loans bought by the Federal Reserve through Aug. 31 was close to the $250,000 minimum in the rescue program, aimed small to midsize businesses hurt by the pandemic.

In congressional testimony, the director of the credit union regulator's Office of Minority and Women Inclusion outlined steps the agency is taking to increase diversity at the agency.

Bank of America announced how it plans to spend a third of its $1 billion commitment to address racial and economic inequities and the effects of the coronavirus pandemic in communities of color.

The fintech and the Minnesota bank it acquired last week, renamed Mid-Central National Bank, intend to pioneer a new method of storing and moving money for consumers.

Thanks to a donation from the Credit Union Federation of Korea, the global trade group is working with international partners to distribute personal protective equipment to institutions in need.

Fintech lenders that reported a surge in missed payments at the start of the pandemic have seen credit quality rebound substantially since. But credit performance could still deteriorate if high unemployment persists and Congress fails to enact more relief measures.

The Ohio regional added a feature to its mobile app that analyzes a customer's spending habits before sweeping small amounts of cash into a savings account.

Bartow Morgan Jr., who ran Brand Banking when it was sold to Renasant, also plans to raise $150 million to expand the seller's products and services.

On Jun. 30, 2020. Dollars in thousands.

The pandemic-driven move to electronic payments isn't slowing down, and card issuers are finding an eager group of innovators promising a speedy migration to digital card production.

On Jun. 30, 2020. Dollars in thousands.

So-called criticized CRE loans at biggest U.S. banks have surged as offices and malls stand empty; doctored video and audio content used to defraud bank customers is rising sharply.

A new report from the National Credit Union Administration shows how hard the industry was hit during the second quarter as businesses closed and consumer spending dropped.

Several community banks that put buybacks on hold during the pandemic’s earliest days have recently authorized new plans, signaling an easing in regulatory pressure and greater comfort with capital levels.

How Bank of America plans to stay ahead of the pack in digital banking; Wells Fargo gets top marks for COVID-19 safety; PPP lenders nearing $10B asset mark fear regulatory ordeal; and more from this week’s most-read stories.