Banking

Late approval and delayed access to the Fed’s liquidity facility have forced fintechs to play catch-up in the Paycheck Protection Program. A strong finish could bolster their case for becoming full-fledged Small Business Administration lenders.

Mortgage lenders impose steep pricing adjustments for cash-out refinancing; bankers fear massive borrower fraud in the Paycheck Protection Program; some worry the coronavirus is giving banks an excuse to spy on employees; and more from this week's most-read stories.

Institutions need to think about revenue streams and portfolio diversification as the coronavirus affects much of the U.S. economy.

The Federal Reserve also said in a supervisory report released Friday that it would conduct stress tests this quarter as planned, taking into account sudden deterioration in the economy brought on by the coronavirus pandemic.

The Independent Community Bankers of America accused the National Credit Union Administration of using the coronavirus outbreak to usher in additional changes without the normal amount of scrutiny.

The SBA's long-standing Economic Injury Disaster Loan program has been so overwhelmed with applications that the agency has capped loan sizes; ECB finding few takers for a program in which it pays banks to make business loans.

Up to 12% of loans under the $660 billion small-business rescue program could be tied to misleading or completely phony applications, fueling concerns about lenders' potential liability.

Through its partnership with SpringFour, a fintech BMO Harris mentored in 2017, the Chicago bank is referring customers — including many hurt by the pandemic — to reputable nonprofits to help with job training, financial assistance and more.

Lenders that scrambled to grant forbearance as the coronavirus pandemic took hold are unsure about the extent of potential losses.

The push to revive the District charter began in 2001, nearly 40 years after the original rule was repealed and CUs there adopted the federal charter.

Coronavirus has taken bankers out of their comfort zone. But they should view adaptations they’ve made in confronting the pandemic as a chance to hone their emergency response skills, not a permanent new normal.

Stuart Levey, HSBC’s chief counsel and a former U.S. Treasury undersecretary, will head the cryptocurrency project; lender groups say the demands of those small business loans are not so easy to meet.

Industry giving is likely to decline in the wake of the pandemic, but it could force the movement to update its giving platforms.

Banks that relied on loan growth to outperform peers in 2019 will need to focus more on core deposits and expense control this year. Check out our annual ranking of the top 200 publicly traded community banks.

COVID-19 diagnoses in McKinley County, which includes Gallup, account for nearly a quarter of the state's cases. That has forced officials to take drastic action.

Regional and midsize banks, which continue to trail the biggest banks in digital engagement, could attract younger consumers by reaching out with more advice about financial basics, according to J.D. Power.

Seneca-Cayuga Bancorp's capital levels have fallen steadily since peaking in 2013.

Regulators need to give more detailed guidance on the coronavirus relief program for small businesses so lenders don’t get trapped in underwriting mistakes down the road.

Prosecutors charge two Rhode Island men with trying to rip off the program; the bank says it has received “inquiries” from state and federal officials on its offering of small business loans.

Even CUs that don’t directly serve the oil and gas industry are likely to be impacted, experts say.