Financial institutions

Triad Business Bank in North Carolina, which opened in March, has made $106 million in Paycheck Protection loans.

The Pittsburgh company’s sale of its stake in the asset manager yielded billions of dollars that could cushion the pandemic’s economic blow and eventually help fund a big acquisition.

Swift's ISO 20022 delays have signaled a pause button. But that's a misplaced notion, says Fiserv's Andrew Foulds.

Often overlooked in narratives about essential workers, branch and call-center employees are responding to challenges posed by the COVID-19 crisis. They’ve processed emergency-relief loans late into the night, coached customers unfamiliar with mobile banking and made house calls to elderly account holders.

Lots of consumers are using mobile checking for the first time, so it's important to provide extra help, says Mitek's Michael Diamond.

The agency’s IG says the PPP failed to prioritize borrowers in underserved and rural markets; the firms, which lack deposits to cushion them, are vulnerable to borrowers defaulting on their loans.

Organizers representing five tribes aim to create a financial institution to serve their members.

Through its partnership with SpringFour, a fintech BMO Harris mentored in 2017, the Chicago bank is referring customers — including many hurt by the pandemic — to reputable nonprofits to help with job training, financial assistance and more.

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.

The Treasury secretary said recent government moves will help the firms get through the risk of millions of borrowers missing their loan payments.

The advent of open banking gives EMIs a once-in-a-generation opportunity to carry on doing what they do best, but doing it faster, cheaper, and with broader horizons, says Token.io's Stefano Paoletti.