Banking

The venture with Goldman Sachs represents the first time Amazon has let a third party control the underwriting process of one of its financing offerings.

In wealth management and consumer lending, banks are starting to win back clients they had been losing to startups.

The ATM industry was already mired in the painful transition away from hardware to digital technology, and now it must try to persuade consumers and merchants that cash isn’t unsafe to handle.

After initially processing the loans manually, the Minnesota bank turned to "low code" software to build the electronic forms and workflows needed to approve loan applications. The result: a more than fivefold increase in the number of loans it could process in a day.

A blueprint that includes more CRA and tax credits for lower-income African Americans would help a demographic disproportionately harmed by the coronavirus pandemic.

Johnson is exiting the state with the sale of the four locations.

A memorandum of understanding will include webinars and training events to increase the industry's understanding of Ex-Im products.

Small businesses that took out the loans will soon be applying for forgiveness; U.S. Secretary of State Pompeo and one of HSBC's large investors criticized the bank for buckling to Chinese pressure.

Financial institutions in Oklahoma are collaborating to make mail-in voting easier.

Leaders of companies including Citizens, Comerica and Truist offered more upbeat assessments of loan demand and credit quality than they have in recent weeks. But others warned of weakness in key sectors such as energy and real estate, and said forbearance policies may be hiding potential pitfalls.

Flush with capital from the sale of its stake in BlackRock, PNC is willing to go big on an acquisition but would be wary of buying a bank with a heavy concentration of consumer loans, CEO William Demchak said.

Activity in the Paycheck Protection Program has slowed in recent weeks, but Customers Bancorp and Fountainhead Capital continue to pursue loans aggressively in hopes of developing long-term borrower relationships.

The industry granted about 21% of these loan applications after three months of record lows.

Anita Gail Moody, who was president of Enloe State Bank, admitted to creating phony loan documents — and setting a fire to destroy them — before the bank was shuttered in May 2019.

The global protests in the wake of George Floyd’s death should serve as a reminder that the banking industry must do more to support minority employees and customers.

The changes are meant to make the program more attractive for both business borrowers and the banks that make the loans; as workers trickle back to offices on Wall Street, they'll see a different landscape due to coronavirus concerns.

Financial institutions and prepaid card providers have played an unwitting role in scams that have stolen billions of dollars from state unemployment insurance programs, whose payouts soared after coronavirus shut down the economy.

Equifax Inc. said it’s begun opening offices at 50% capacity, part of a wave of firms preparing to reopen corporate America as the coronavirus pandemic begins to ebb.

The central bank will increase support for credit issued through the Main Street Lending Program while providing midsize firms with more flexibility on the amounts they receive.

Credit unions have been encouraged to help members in a prudent and fair manner but that also means properly documenting the decision-making process.