Banking

The congressional showdown over the pace of rulemaking during the pandemic is a hardening of older positions on banking policy ahead of the 2020 elections, observers said.

Stu Lubow, who succeeded Kenneth Mahon, gained more responsibilities. Mahon remains Dime's CEO.

The website, ppp.bank, will help borrowers in the Paycheck Protection Program apply for loan forgiveness.

Customers' increased use of digital channels during the pandemic could compel the Minneapolis company to rethink its branch strategy, CEO Andy Cecere said.

The latest Credit Union Trends Report from CUNA Mutual Group predicts interest rates will be at record lows for at least two years and earnings are also likely to take a hit from record-high unemployment.

The Federal Reserve Bank of Boston published details on the terms for lenders and borrowers to participate in the facility intended to provide coronavirus relief funds to middle-market firms.

The measure, which garnered near-unanimous support, would triple the period during which businesses can spend their coronavirus relief funds and make it easier for loans to be forgiven.

Even digitally savvy organizations face a vexing dilemma when sending emergency funds: The neediest recipients often have little other option than to receive paper checks.

There are several ways the coronavirus has shown that traditional manual, paper-based AP processes are not up to the task in 2020 and beyond.

COO says bank is on track to meet growth targets but expects more consumer lending losses; the mortgage agencies’ ability to raise $240 billion in capital before going private won’t be easy.

The congressional showdown over the pace of rulemaking during the pandemic is a hardening of older positions on banking policy ahead of the 2020 elections, observers said.

The reloadable debit card resembles a bank account with new high-yield savings account and other tweaks.

Expenses soared in the rush to deploy emergency loans to small businesses, and now Bank of America may need to delay some investments if it hopes to meet cost targets, CEO Brian Moynihan said.

The agency has responded to the American Bankers Association's legal request to strike down expanded membership rules for credit unions.

The economic contraction caused by the coronavirus pandemic has been worse than the Wall Street firm had modeled two months ago, its president John Waldron said Wednesday.

Credit card and debit card spending have improved for several weeks in a row, according to a report from PSCU.

The company will incur an upfront fee but will save $7 million a year by walking away from a deal with the Los Angeles Football Club.

Bankers have become more uncertain about how to serve marijuana businesses owing to confusion about which states deem them essential.

The JPMorgan CEO says the recovery has to start first, and future buybacks won’t be as big as before; Texas Capital Bancshares and Independent Bank blame the coronanvirus market impact.

A new program is intended to reach individuals without a fixed address or checking account more easily access COVID-19 relief funds — and hopefully keep those consumers as members.