Banking

The Main Street Lending Program and other Federal Reserve loan facilities should be tailored to the needs of Black-owned banks and businesses.

Len Devaisher once served as a regional executive for Old National Bancorp.

Restaurants, medical offices and car dealerships were the top recipients of large loans; increased usage of the drive-ups is putting a strain on the low-tech lanes.

Some financial institutions are using emotion AI, which picks up subtle signals over text, audio and video, to help their customer service agents do their jobs better.

BBVA USA in Birmingham, Ala., says it will use a proprietary score based on multiple sources of coronavirus-related information to determine when certain branches are ready for walk-in traffic.

Small banks have long led the campaign against industrial loan companies, arguing they can be used to violate the separation of banking and commerce. But now the industry’s heavyweights are also taking a hard line in response to an FDIC proposal that would give tech companies a smoother path into the lending business.

The Trump administration released details of almost 4.9 million loans to businesses — from sole proprietors to restaurant and hotel chains — under the federal government's largest coronavirus relief program so far, the $669 billion Paycheck Protection Program.

Jane Gladstone, new president of Promontory Interfinancial Network, says the recession will accelerate the shakeout among the nonbank disruptors and that small banks have an opportunity to forge new bonds with the survivors.

Banks participating in the Main Street Lending Program were able to register for and offer credit to businesses last month, but the Federal Reserve said Monday it was set to make the effort fully operational.

Congress and the FDIC are considering easing limits on banks' holdings of such deposits, a move that could inadvertently lead to more expensive failures.

Deutsche Bank says it’s on track to meet its financial targets while Commerzbank's top two executives resign; recent Fed stress test results show European banks' poor performance in U.S. continues.

Small businesses have been hard hit by the pandemic, meaning commercial lenders are considering how they can better manage risk in this portfolio and make other changes to help.

The New York-area companies' $489 million agreement runs counter to recent merger pacts built around branch cuts and more tech spending.

Some consumers have decided to stay home as celebrations have been canceled or scaled back to follow social-distancing guidelines.

The company said its plan to shutter 12 locations reflects "increased client usage of online and mobile banking and a commitment to improve digital banking technology."

Ride-hailing services and public transit were gaining ground until the pandemic struck, but the outbreak has quickly and radically changed how consumers think about buying cars.

The class A notes, secured by legacy trust-preferreds and subordinated debt of institutions, carry an investment-grade A1 rating from Moody's. That rating is slightly lower than a prior Hildene CDO, due to elevated pandemic risk to bank profitability.

The investment firm is the latest nonbank to try to enter banking through a Utah-based ILC.

Tom Pahl, a former longtime regulator at the Federal Trade Commission, has led key rulemaking efforts for the consumer bureau.

Heritage Trust Federal Credit Union will buy the bank's deposits and assume its liabilities.