4 Min ReadThe SBA’s Paycheck Protection Program is nearly depleted, but there are ways small banks and fintechs, with help from Congress, can remedy the situation.
5 Min ReadAs universities move classes online, there are signs enrollment could be down in the coming academic year. That could have a major impact on credit unions’ private student loan portfolios.
1 Min ReadA trade group says suspending so-called beneficial owner rules would help financial institutions make more small-business loans through the Paycheck Protection Program.
4 Min ReadUnlike in 2008, banks have become a steady force during the coronavirus pandemic.
4 Min ReadBy helping borrowers now, banks hope customers can quickly catch up on payments once the coronavirus pandemic ends. If they can’t, interest income will remain low and charge-offs could pile up if the crisis drags on.
3 Min ReadMany banks were hitting their limits for lending to small businesses devastated by the coronavirus outbreak. They say the Fed's decisions to help fund additional loans and relax capital requirements will resolve many of their problems.
3 Min ReadCustomers in the challenger bank's pilot program drew down an average of $200 each in advance of the government's $1,200 payments.
3 Min ReadThe agency overhauled its system for the Paycheck Protection Program on Wednesday. Lenders hope it addresses the access issues and a crash that bedeviled the effort’s first week.
4 Min ReadCommunity advocates would like to see changes to the 1977 Community Reinvestment Act, but say regulators should suspend such efforts until the coronavirus pandemic has passed.
5 Min ReadMeasures that delay the Current Expected Credit Losses standard and reduce a community bank capital ratio are temporary, but the industry now sees an opening to argue that they should be permanent.
3 Min ReadThe government should encourage community lenders to offer six-month loan repayment forbearances to struggling businesses before it’s too late.
1 Min ReadThe central bank is creating a facility to provide financing to banks participating in the Small Business Administration’s Paycheck Protection Program.
4 Min ReadFew lenders are finding creative ways to provide much-needed financial advice and emergency services online.
8 Min ReadMany bankers find crucial parts of the SBA effort to help businesses hurt by the coronavirus outbreak to be unclear and onerous. If those issues go unresolved, participation could suffer.
2 Min ReadDigital banks outscored brick-and-mortar banks in a recent J.D. Power study of customer satisfaction. However, the survey pointed to shortcomings in call center services, which are in high demand during the COVID-19 pandemic.
3 Min ReadLenders can offer deferred payments and capitalize on digital banking to help small businesses and consumers get back on their feet.
8 Min ReadCustomers are more reliant than ever on digital banking tools, and institutions like OceanFirst, BBVA and M&T are thankful they had invested in teaching employees to show customers how to use them.
1 Min ReadThe 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.
1 Min ReadRegulators are allowing banks that implemented the loan-loss standard to forestall any capital hits until 2022.
4 Min ReadWhile LendingClub, Prosper, Avant and SoFi are giving existing borrowers breaks in the short term, they're considering tightening credit as the coronavirus outbreak threatens to drag the economy into a recession.
