Banking

Banks can capitalize on Amazon’s ambitions by teaming up to launch financial products and services aimed at coveted customer segments. But they should beware the legal and regulatory pitfalls.

Brisbane, Australia-based EML has partnered with the New Zealand buy now, pay later fintech Laybuy to leverage digital cards for in-store and online retail purchases.

T-Mobile Money is now being offered to the 150 million customers of the combined wireless carriers, which merged this spring.

T-Mobile Money is now being offered to the 150 million customers of the combined wireless carriers, which merged this spring.

Part of the coronavirus’s economic story is the sudden boom in installment payment services — a sure sign of consumers and merchants wanting a haven from revolving debt. But the rush to simpler credit is also a reflection of how the crisis has changed the way people are living and managing their lives.

On Mar. 31, 2020. Dollars in thousands.

On Mar. 31, 2020. Dollars in thousands.

On Mar. 31, 2020. Dollars in thousands.

But Fannie and Freddie’s regulator isn’t willing to cancel the 0.5% levy outright; how banks respond to the pandemic is crucial to their long-term survival.

Late fees on loan payments and late-arriving documents tied to forbearance and loan forgiveness are just some examples of how delays caused by cutbacks at the U.S. Postal Service could affect lenders and their customers.

The move online has given consumers more comfort with automated channels, writes Mobey Forum's Elina Mattila.

The Federal Reserve could ease capital rules, foster the creation of special-purpose banks and take other steps to strengthen minority communities and businesses without legislation being sought in Congress — if it has the will to do so, experts say.

The St. Louis company is gaining a sizable Small Business Administration platform and several niche deposit teams. Keeping those specialists in the fold will be key to the acquisition's success.

Late fees on loan payments and late-arriving documents tied to forbearance and loan forgiveness are just some examples of how delays caused by cutbacks at the U.S. Postal Service could affect lenders and their customers.

Shifts in consumer behaviors have boosted interest in several loan categories, which could be a boon for credit unions.

If the U.S. Postal Service can hold talks with big banks, like JPMorgan Chase, about offering financial services in post offices, then it could easily strike up similar conversations with credit unions.

The number of originators has shrunk during the pandemic, while portfolio lenders have gotten more picky; scams against consumers jumped by two-thirds during the first half, Barclays says.

Executives and boards are bracing for elevated loan losses and stagnant revenue, which will mean more conversations about belt tightening as opposed to added investment.

USAL Bancorp will have nearly $300 million in assets after it buys Escambia County Bank.

The bank has agreed to pay $97 million in customer restitution and a $25 million fine to settle allegations by the Consumer Financial Protection Bureau that it deceptively charged overdraft fees for certain ATM and debit card transactions.