Banking

Federal Reserve Chairman Jerome Powell said about 300 lenders have signed on to the program and that the central bank is committed to making adjustments that could attract more borrowers.

Lenders are selling their Paycheck Protection Program loans or hiring outside companies to navigate the process in an effort to reduce risk and avoid overloading their employees.

Southwest Bancshares in San Antonio will have assets of $1.5 billion when it absorbs two affiliated banking companies in nearby cities.

The coronavirus outbreak forced BBVA USA to rethink a plan to add 15 branches in Texas, but it decided to move ahead anyway, albeit with a few tweaks.

The online TV giant will start by moving $25 million to a fund that invests in minority-run financial institutions that serve low-income communities and depositing $10 million into Hope Credit Union in Jackson, Miss.

Supreme Court says the president has the power to remove the director at will; the bank is the only one of the six largest U.S. banks to say it will cut its dividend next quarter.

Bank consolidation has been stagnant since the pandemic hit, and the outlook for the rest of the year is bleak.

The company said it had cut 20 positions and found a way to shed 35,000 square feet of office space by the end of 2020.

Eric Luse, who co-founded the Luse Gorman law firm, helped Community Bank Shares of Indiana create the first MHC in the early 1990s.

Goldman Sachs, the card’s issuer, has rolled out a new program in which it will provide personalized advice to consumers with marred credit profiles in hopes of making them customers down the road.

Thanks to their close relationship with the card networks, banks stand to benefit most from deals like Mastercard’s agreement to buy Finicity and Visa’s pending purchase of Plaid. The prospects for fintechs and consumers are dicier.

With multiple business sectors reeling from the pandemic, banks are facing tighter net interest margins, provisioning more for losses and seeing their balance sheets expand, the agency said in a report.

The company announced a slate of changes on Monday that includes the creation of a new position overseeing strategy for corporate and commercial banking.

On Mar. 31, 2020. Dollars in thousands.

The agency wants more timely information on the banks it supervises; investors filed a criminal complaint against Ernst & Young, calling their work “a disaster” for failing to expose the scandal.

Two years after a consumer protection law changed how banks and other companies handle customer information, a new proposal aims for more sweeping reforms.

Some observers said the central bank should have suspended dividends entirely in response to an unprecedented economic emergency caused by the pandemic. Others said its more cautious moves were appropriate because big banks' capital is strong and the economy could bounce back.

Wells Fargo customers targeted with phishing attacks using calendar invites; Fed freezes stock buybacks, caps dividends after stress test results; Citigroup names Titi Cole its head of global operations and fraud prevention.

The Loan Source, the nonbank lender buying the Paycheck Protection Program loans, has similar deals in place with other lenders.

A recent blog post argues that the industry must get ready for the possibility of the Federal Reserve lowering rates below zero.