Financial institutions

Bankers say they’re still trying to figure out if the Fed’s complex loan-buying vehicles will help them cater to the needs of midsize commercial customers hammered by the economic shock from the coronavirus outbreak.

The proposed Agility Bank would rely heavily on digital offerings. It is pursing a national charter with the Office of the Comptroller of the Currency.

Like his longtime boss and mentor, Bob Wilmers, Jones is deeply committed to investing in communities, controlling expenses and delivering value for investors. But he also has novel ideas for modernizing M&T, like doing away with its "permission culture," improving the customer journey and positioning it as a go-to bank for tech talent.

ISO 20022 allows banks to generate greater amounts of standardized data to provide targeted insight, says Icon Solutions' Lauren Jones.

The change — effective immediately — will reduce capital demands by about 2% overall, the Fed estimated, and will be open for a 45-day comment period.

With access to comprehensive and accurate financial data delivered through advanced APIs, financial services providers no longer have to develop personalized experiences themselves, argues Envestnet's Brandon Rembe.

After budget cuts and a strategic transition, the interagency body conceived by Dodd-Frank to identify systemic threats has largely been silent as the pandemic roils the economy.

The regulation established standards for investors who own less than a quarter of an institution. Banks are getting more time for implementation as they focus on effects of the COVID-19 pandemic.

New features and improvements often take a back seat to security, says Entersekt's Claudius van der Meulen.

A host of industry events have been rescheduled due to the outbreak, with postponements now stretching into mid-May.

Gibbons had been in the position on an interim basis since September, when his predecessor, Charlie Scharf, left to become CEO of Wells Fargo.

Draw-downs on C&I credit more than quadrupled in a seven-day period ended March 25. Lenders may try to rein them in if the crisis drags out, but legal precedent isn’t on their side.

A former market president for State Bank Financial would serve as CEO of the proposed Classic City Bank.

Fintech companies only think they want to be banks. Banking may seem like a natural evolution, but that doesn’t mean fintech firms should become banks, says nbkc bank's Zach Anderson Pettet.

As companies move work off-site because of the pandemic, a host of issues have arisen around remote access, network monitoring and cybersecurity.

The COVID-19 crisis is forcing many banks to hold their spring shareholder meetings online only.

The company's plan had drawn strong criticism from bankers about Rakuten's potentially controlling an industrial loan company while engaging in its nonfinancial businesses.

Organizers of Coastal Community Bank must raise $19.5 million before opening.

The most innovative fintech solution may be debit, which is already integrated into digital-first experiences in a way that’s fresh and exciting for the consumer, says Meta Financial Group's Matt Withey.

Refinancing activity is surging, existing borrowers are inquiring about loan modifications, loan closings are being delayed by more complex credit checks — and banks are short on people to handle it all.