Deposits

Waiting for the SBA to sign off on PPP loan forgiveness; banks criticized for requiring balloon payments on loans in forbearance; how backlash over Scharf remarks affects Wells Fargo’s diversity push; and more from this week’s most-read stories.

Partnering with the account-opening software firm Mantl, the New Jersey bank created a CD campaign that helped fund its Paycheck Protection Program lending.

On Jun. 30, 2020. Dollars in thousands.

A historic influx of deposits has brought the National Credit Union Share Insurance Fund’s equity ratio close to the point where premiums would be required, but the regulator’s plan is intended to boost it.

Second-quarter figures from the credit union regulator paint a grim picture for many states across a variety of key earnings metrics.

The plan would encourage more risk-taking by big banks, which would put the industry and taxpayers in harm’s way, write former CFPB Director Richard Cordray and Camden Fine, onetime head of the Independent Community Bankers of America.

The company and its global peers have seen their profitability hurt by half a decade of negative interest rates, which effectively make banks pay for holding clients’ cash.

A pandemic-driven surge in bank deposits helped drive the agency's insurance reserves below their statutory minimum.

A new report from the National Credit Union Administration shows how hard the industry was hit during the second quarter as businesses closed and consumer spending dropped.

A New York CDFI is halfway to its $100 million fundraising goal for a fund that would put deposits in Black-owned banks and make loans to key businesses or projects. It hopes the moves will improve availability of capital and access to mainstream financial products.