Financial institutions

Large spikes in transactions and unusual payment amounts can be a response to the pandemic, not a sign of fraud, says Genpact's Manish Chopra.

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

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.

Mortgage lenders have imposed steep pricing adjustments for cash-out refinancing as more borrowers seek forbearance.

Industry groups have called for a variety of measures to help CUs weather the pandemic’s economic fallout, including more money for funds that aid community development financial institutions.

Some megabanks are pushing New York lawmakers to add a legal safe harbor if lenders use the new Secured Overnight Financing Rate. Smaller banks would have little choice but to take that option.

Organizers of Rockpoint Bank still need to raise $30 million before opening.

Funneling fees from emergency loans to feed the hungry. Supporting psychological counseling for health care heroes and financial advice for the poor. Backing retrofits of customer operations to produce protective gear for front-line medical personnel. Bankers and financial educators have tossed out the traditional playbook to help clients and communities in crisis.

The online lender reported a hefty first-quarter loss on Thursday and said that a whopping 45% of its small-business loans are past due.

Whether presented at the teller line or through digital channels, the best way to prevent fraud is by triangulating items in real-time against a robust fraud database. To strengthen the database, fraud data needs to be contributed in return, says Advance Fraud Solutions' Ted Kirk.