The program is intended to aid businesses hit hard by pandemic-induced lockdowns, but lenders are lobbying to have the rules relaxed to help owners of stores and offices damaged by recent riots and looting.

Rodney Hood, the first African American to lead a banking agency, said in a deeply personal statement that he was "familiar with the anger and frustration that comes with the everyday challenges and realities surrounding race."

Tom Shoemaker initially took the helm in 2017 on an interim basis after the Albuquerque, N.M.-based credit union called off a merger.

Many of the cultural changes instituted by Hisham Salama, one of American Banker’s 2020 digital bankers of the year, have led to a more agile tech team and higher customer satisfaction scores.

Bankers spent Monday cleaning up damaged branches, wondering if their small-business clients will need more emergency aid and contemplating how the racial and economic inequalities highlighted by days of violent protests nationwide can be corrected.

Patricia Sarne was named CEO of San Antonio Citizens Federal Credit Union after former chief executive Tim Baldwin retired.

Thomas O'Brien will take the helm at Sterling Bancorp, which is dealing with internal control issues and probes by the OCC and Justice Department into its mortgage operations.

The chiefs of some of the biggest U.S. banks called on their workers to fight racism after an unarmed black man died as a result of a white police officer kneeling on his neck, prompting nationwide protests.

Though he acknowledged working remotely has definite advantages, CEO Michael Corbat says “our goal is to get our employees back."

The bill, which now goes to the Senate, would give small businesses greater flexibility in how they use the funds; not everyone's on board with Otting's signature achievement.

Funds originally slated to assist credit union employees with attending conferences will now be used to help the state league put on virtual events.

University Bancorp decided to shutter its wholesale mortgage lending business after it struggled to hire and train employees remotely.

Full-time equivalent, as of Dec. 31, 2019. Dollars in thousands.

If the agency hadn’t revised the 1977 law now, nothing would be done for communities in need that are struggling even more in the coronavirus pandemic, writes Faith Bautista, CEO of the National Diversity Coalition.

The FHFA says the two government-sponsored enterprises need at least $240 billion of capital before they can go private; Transunion says more than 3% of consumer loans it tracks are in financial hardship.

With the pandemic fueling anxiety about public transportation and dense urban offices, financial firms in Manhattan are looking elsewhere for space to let workers spread out and avoid commuting into the city.

The Miramar, Fla.-based institution is spending $85,000 to help businesses as the economy begins reopening.

Some staff will be sitting at different desks, and in some cases different floors, when they return to work, according to the memo sent to employees Wednesday.

The memo from CEO Michael Corbat acknowledged the challenges many employees have faced working remotely during the coronavirus outbreak while taking care of family members and home-schooling their children.

The regulator has formed the Culture, Diversity and Inclusion Council, which will conduct a survey of NCUA's culture to identify areas that need improvement.