Economy

Bank of America made three more investments in minority-focused lenders, bringing its total to 10 in the past two months.

Full-time equivalent, as of June 30, 2020. Dollars in thousands.

Year to date through June 30, 2020. Dollars in thousands.

In the first episode of the five-part Arizent documentary series, we look at how disparities in net worth and mortgage discrimination impact Black home ownership — and why it's impossible to close the gaps without attacking systemic racism.

Traditional lenders must embrace fintech underwriting tools that would help women- and monitory-owned businesses get loans they are too often denied.

In the first episode of the five-part documentary series, we look at how disparities in net worth and mortgage discrimination impact Black home ownership — and why it's impossible to close the gaps without attacking systemic racism.

Deposits have piled up, curtailing overdrafts and other fees. The trend could force lenders to find other ways to make money — or start cutting to the bone.

This five-part series is a comprehensive effort to explain the racial discrimination Black Americans face in our financial system.

With the COVID-19 pandemic creating unprecedented challenges for small businesses, American Express has increasingly targeted its investments in that niche.

Citigroup said Peter Charrington, global head of private banking, will leave to spend more time with family and pursue new opportunities.

Small and midsize merchants in North America continue to struggle with the effects of COVID-19 on their bottom lines, but those who have developed an online presence and made changes to in-store payments have found the process to be a vital step.

Many of the Buffalo, N.Y., bank’s commercial loans have exited forbearance granted in the early days of the pandemic — except hospitality and retail, which were given longer dispensation.

The Cincinnati company, one of just a handful of lenders to reduce its cushion against bad credits in the third quarter, was grilled by analysts who suggested it was being too optimistic about the long-term effects of the pandemic recession.

Highlands Banking would be based in a community near the state's borders with Georgia and South Carolina.

The U.S. economy continued to grow across the country as it recovered from the coronavirus pandemic, but the picture was uneven, according to a new report from the Federal Reserve.

Agility Bank, one of two women-led groups seeking charters, is looking to open next spring.

The agency confirmed that loans backed by Fannie Mae and Freddie Mac can continue avoiding debt-to-income limits as the bureau completes a revamp of the Qualified Mortgage standard.

The Dallas bank has begun encouraging larger borrowers to seek forgiveness of Paycheck Protection Program loans first as it holds out for the government to streamline the process for loans below $150,000.

Southern Bancorp in Arkansas, which raised $35 million in capital from private investors, is out to prove that community development financial institutions can deliver attractive returns and fulfill their missions to help the underserved.

Gary Cohn, former head of the Trump administration’s National Economic Council and onetime top executive at Goldman Sachs, says technological changes will continue to make it harder for smaller financial institutions to compete and force many to be sold.