Banking

Other regionals set more aside for loan losses than the Cleveland bank did in the second quarter, and its ratio of reserves to total loans is slightly lower, too. But Key executives say the portfolio is balanced and holding up well despite the pandemic’s economic toll.

Delinquencies have been ticking up since the start of the coronavirus pandemic and Capital One is warning of more pain unless the government provides additional relief to tenants and landlords.

The IBM-BNP collaboration and other new developments show that high-profile breaches haven't deterred banks from using the cloud to store data.

A letter from the National Taxpayers Union requested changes, such as requiring federal credit unions to fill out a certain IRS form for non-profits, before lawmakers considered easing member business lending limits.

Peoples Bank in Arkansas once used brokered deposits to fund more loans to underserved borrowers. It could do so again if Congress loosens restrictions, says CEO Mary Fowler.

See this crisis not as a nail in your corporate coffin but as an opportunity to move your team and members forward, said OBI Creative CEO Mary Ann O'Brien.

The company reported growth of more than 103% since the end of last year.

The online lender has already branched out into facilitating payments and analyzing cash flow for small-business customers. Its new checking account is meant to round out those services.

Her nomination now moves to the full Senate after banking panel confirms her in party-line vote; Scharf adds another BNY Mellon colleague, Mike Santomassimo, to his senior team.

Simmons First, which is based in Arkansas, plans to shutter 23 locations later this year, while Great Southern in Missouri has hired a firm to take a look at its network.

Banking and credit reporting groups say such an agency could politicize the reporting process. Consumer groups say it would offer consumers a necessary alternative.

The Dallas bank set aside less in the second quarter for credit losses than analysts expected. Executives cited action in Texas and California to reverse reopenings and said they're still committed to the oil and gas business.

The company said the acquisition should lower its funding costs and shore up its net interest margin.

Many bankers want to focus more on the forgiveness process, assessing the status of deferrals and pursuing traditional lending opportunities.

The Georgia company warned that outstanding loans could fall and deferrals will likely rise as its home state and Florida grapple with the pandemic.

Loans to retailers and hotels are at the highest risk of default, the Salt Lake City company said in its second-quarter earnings presentation.

The Federal Reserve, U.S. Mint and financial industry representatives are strongly considering a public call for Americans to deposit their spare change, among other fixes, to get coins circulating again. Meanwhile, banks of all sizes are getting creative at the local level.

The coronavirus pandemic has exposed weaknesses even at well-established fintechs. They could become more resilient by partnering with traditional financial institutions.

Jamie Warder, head of digital banking at KeyBank, says alliances with companies like HelloWallet have helped him and his team adapt to changing conditions during the coronavirus crisis.