Lending

When both origination and forbearance demand spiked in the early weeks of COVID-19, quick thinking lenders were able to leverage their expertise and tech stacks to respond quickly.

The coronavirus pandemic has turned every industry on its head. For lending, it exposed the need for modernized, fully digital platforms.

Banks, lenders, and fintechs have been on a path toward digitizing the mortgage process from end-to-end — long before the term coronavirus entered our daily lexicon. How has the pandemic affected progress?

Crane Credit Union has taken an Instagram Stories-like approach, while Certified Federal Credit Union is crafting personalized email messages.

The $3.1 billion-asset institution's product will not carry any fees and offers a variable APR.

The industry says the 2017 cut in the corporate rate helped position lenders to support the economy when the pandemic hit. But a plan proposed by Democratic nominee Joe Biden could strain banks' capital investment and hiring, observers say.

Credit union groups continue to make ad buys for industry-supported candidates in advance of Nov. 3, but recent positive economic news could be short-lived.

The former chairman of the National Credit Union Administration will work with the fintech to broaden its reach in the credit union space.

The central bank's proposal to overhaul the Community Reinvestment Act differs markedly from the OCC's regulation in testing, data collection and other areas.

The Federal Reserve and the Treasury Department released a set of FAQ's aimed to clearing up misconceptions about the Main Street Lending program and encouraging more bank participation.