Banking

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.

Banks 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.

Before the coronavirus outbreak, financial institutions, wary of robberies, prevented customers from covering their faces. As branches reopen, public health concerns are forcing accommodations.

Industry figures have begun to speak out in support of demonstrations in the wake of the deaths of George Floyd and other African Americans, and new data is expected to show how the coronavirus impacted balance sheets.

On Mar. 31, 2020. Dollars in thousands.

On Mar. 31, 2020. Dollars in thousands.

The Credit Union National Association filed the class action suit in 2017 after roughly 147 million people had personal information exposed through a hack of the credit reporting agency.

Banks are looking to reduce their consumer credit risk exposure in the face of high unemployment; the drop in branch transactions is causing banks to rethink how many they need.

The U.S. division of HSBC Bank has added Apple’s iMessaging feature to its suite of customer service channels. Instead of waiting on hold, customers can trade texts with an agent.

Prior to the outbreak, members were banned from covering their faces inside branches for security reasons. Now institutions must devise ways to keep everyone healthy and safe.

Lenders have a role to play in the national reconciliation that must follow the recent racial unrest — providing greater access to capital for African Americans and other underserved groups so they can build wealth, activists said at a panel discussion hosted by Berkshire Bank in Boston.

As part of its commitment, the Minneapolis company said it will provide $100 million in capital to African American owned and operated businesses and organizations.