Financial institutions

Evidence suggests some minority-owned businesses can’t access loans, and the Trump administration is under pressure to report borrower demographics. The issue is gaining attention against the backdrop of protests over the George Floyd killing.

Organizers of Coastal Community Bank withdrew their application after the pandemic disrupted efforts to raise capital.

Members of the Small Business Committee signaled backing for broadening Paycheck Protection Program access for the smallest companies, encouraging participation by nonbank lenders and other improvements.

The group behind NewBank is pursuing a charter with the Office of the Comptroller of the Currency to offer banking services nationwide.

Stephen Gordon would become chairman and CEO of Genesis Bank, which is looking to raise $53 million in initial capital.

Greg Seibly, who led the turnaround of Sterling Financial during the Great Recession, was nine days into his new job as president of Union Bank when the pandemic was declared.

Recent steps that would help nonbank lenders enter the traditional banking system, like a proposal clarifying the industrial loan company charter, are needed but face strong opposition.

The employee assisted authorities in currency trading investigations that cost the bank $714 million; Citi is eyeing an expansion of its commercial banking ops in Europe, Middle East and Africa as other lenders exit on coronavirus fears.

James Smith, who recently completed his gradual transition out of banking, was spearheading a public-private economic development plan for Connecticut when the coronavirus pandemic hit. The crisis made the need for the plan greater — and the job harder.

The veteran banker will serve as chief administrative officer, with responsibilities that include strengthening Citi’s data architecture, creating greater consistency in its dealings with regulators and enhancing its efforts to combat money laundering.