Economy

The Japanese e-commerce giant is taking another run at a U.S. banking charter after receiving feedback from the Federal Deposit Insurance Corp. about its initial application, which was withdrawn earlier this year.

The new regulation is intended as a workaround for banks affected by the 2015 decision that created legal uncertainty for loans sold across state lines.

The takeaway from the PPP rollout is that bankers must protect their reputations and limit their risk appetites as they participate in further government-backed rescue programs.

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.

Payouts continue to be relatively generous, but that could change if the Federal Reserve demands banks bolster capital or the economy worsens.

The funds include $3.2 billion in loans that community development financial institutions had already approved during the PPP's second phase.

The funds include $3.2 billion in loans that community development financial institutions had already approved during the PPP's second phase.

Investors are looking past signs of weakness and toward an eventual recovery, but top executives at BlackRock, Citigroup, Goldman Sachs and other financial firms remain cautious as many cities and states remain in partial lockdown to slow the spread of the coronavirus.

Relationships with third party suppliers and regulators have never been more important, says says Genpact's Manish Chopra.

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.

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

The Dallas bank appears to be at a crossroads after its merger with Independent Bank Group was called off Tuesday.

JPMorgan Chase's CEO expects the economy to rebound in the third quarter thanks to government stimulus programs and the strength of the consumer going into the pandemic.

Year to date through Dec. 31, 2019. Dollars in thousands.

Year to date through Dec. 31, 2019. Dollars in thousands.

Full-time equivalent, as of Dec. 31, 2019. Dollars in thousands.

Texas Capital also said that Keith Cargill has stepped down as president and CEO.

The industry is well positioned to gain market share, but institutions may not see the same levels of growth as after the last recession.

Companies like Amazon, Apple, PayPal Netflix, Uber and others have made it so easy to transact that consumers are left wondering why their bank or credit union cannot provide them with the same kind of seamless and tailored experiences, says Payrailz's Mickey Goldwasser.

Some observers wonder if proposed regulatory targets for Fannie Mae and Freddie Mac will stoke concerns about low shareholder returns. But others suggest those fears are unfounded.