Banking

A new report from Access Softek showed at least one in five members are likely to reduce their branch visits once the pandemic ends, though the risk of consumers leaving their credit union entirely may have declined.

The prepaid card company benefited from payments that were designed to offset the pandemic’s impact on U.S. consumers.

While borrowers seek the lowest interest rates ever, lenders have made it harder for some to access them; former JPMorgan Chase executive will serve as chair of First Women’s Bank.

Consumers are reluctant to take on additional debt in the wake of the coronavirus, cutting into credit unions' revenue streams. That could spur more institutions to roll out rewards programs to promote debit card usage.

The global pandemic and stalled trade negotiations have discouraged farmers and ranchers from taking on more debt and made banks uneasy about extending more credit.

Along with the assets-under-management milestone, Michigan Business Connection noted that its partner credit unions have financed more than 1,000 Paycheck Protection Program loans.

Besides reauthorizing the Paycheck Protection Program, Congress should upgrade the loan forgiveness process, offer businesses the chance to take out a second loan and ensure the pricing satisfies lenders, bankers say.

KeyBank, Regions and others are using self-service portals, robotic processing automation and virtual assistants to digitize the collections process and make it more humane in anticipation of rising delinquencies.

Community bank earnings are usually easy to understand, but loan deferrals and modifications as well as the complexities of the Paycheck Protection Program are skewing financial statements.

Over 90% of loans from CUs in the Empire State are eligible for forgiveness using the $150,000 threshold.

Financial firms could lose access to data that’s critical to their businesses if Congress passes a privacy bill. To change lawmakers’ minds, they need to show how data in the right hands has the power to improve customers’ lives.

The marketing and tech-sharing opportunities for Google's eight financial institution partners are captivating despite the risk of data privacy or other issues cropping up down the road.

First Bank of Central Ohio would be based near Columbus, where another group opened a bank last year.

The bank is siding with its biggest investor, the German government, over its second largest holder, which wants big cost cuts; the EIDL has had to reduce loan sizes to meet huge demand.

The marketing and tech-sharing opportunities for Google's eight financial institution partners are captivating despite the risk of data privacy or other issues cropping up down the road.

Lawmakers don't appear ready to relax requirements yet, but they may do so in future legislation in hopes of spurring more bank lending.

The marketing and tech-sharing opportunities for Google's eight financial institution partners are captivating despite the risk of data privacy or other issues cropping up down the road.

Keith Leggett, a former economist at the American Bankers Association, has overseen Credit Union Watch since 2009.

James Gutierrez will remain on the board of directors and is trying to arrange financing to help keep the struggling company afloat.