Banking

The Illinois senator wants the Fed to investigate alleged anticompetitive practices in debit card transactions; reserves at Western lenders are poised to hit their highest level since 2009.

BBVA and Rockland Trust have taken a highly numbers-driven approach to branch reopenings. All banks are having to rethink their branch networks during the pandemic and beyond, and analytics software is helping.

Similar to a law passed two years ago in California, legislation headed to the New York governor’s desk would require fintech and other nonbank lenders to uniformly disclose total cost of capital, APR and other metrics to potential borrowers.

A new Small Business Administration notice explains what steps lenders must take to seek approval of their forgiveness decisions under the Paycheck Protection Program. But lenders say lawmakers and regulators must do more to cut red tape.

Two credit unions' approaches to digital banking helped them provide superior member service as the coronavirus limited in-branch interactions.

The Nashville bank had sued Gaylon Lawrence in 2017 over allegations that he was pursuing an illegal takeover, but the two sides announced terms of a settlement.

The slowdown in elective medical procedures caused by the coronavirus pandemic led to less spending from HSAs and a decline in interchange income for the Connecticut bank.

The legislation, which has yet to pass the House, is meant to ensure coronavirus relief funds go to consumers and are not diverted to debt collectors.

With the coronavirus pandemic intensifying and hopes for a quick economic recovery fading, banks large and small are reducing headcounts, shuttering branches, shedding office space and generally trying to trim expenses wherever they can.

Lenders need to use alternative data as an overlay to traditional underwriting methods to help creditworthy customers in hardship because of the coronavirus crisis.

Warren Buffett’s company is taking advantage of a 30% drop in the stock price to buy 34 million shares; the banks aren’t making waves as Beijing tightens its grip.

Home-renovation loans to add features such as offices and pools could be one source of lending as credit unions struggle with overall sluggish loan demand.

Financial institutions want to protect customers and employees from the coronavirus but are caught in the middle of a politically charged public health debate. The stance taken by the industry’s largest trade group gives them cover.

The Ohio company, which has beefed up its loan-loss reserves, raised the possibility of more sales of oil and gas credits and talked up strong retail segments such as its marine and RV loans.

The CEOs of the credit card lenders Discover and Synchrony are urging Congress to come through with another round of government stimulus so that struggling households can continue paying their bills.

CEO Greg Carmichael says the Cincinnati company has cut expenses but will proceed with branch openings in the Southeast and investments in its commercial loan and mortgage origination platforms to lay the groundwork for post-pandemic growth.

The CEOs of the credit card lenders Discover and Synchrony are urging Congress to come through with another round of government stimulus so that struggling households can continue paying their bills.

A new study from WalletHub finds nealry 40% of parents are planning to spend less in advance of the upcoming academic year.

Installment payments are gaining mainstream appeal as an alternative to traditional credit products, prompting Affirm to boost its visibility in an increasingly crowded market.

Finding loan forgiveness programs and keep-the-change loan paydowns are examples of services startups like Savi, Summer and FutureFuel.io are offering banks to help borrowers manage their monthly payments.