Comptroller of the Currency Joseph Otting says the revised Community Reinvestment Act will provide more credit access to communities in need and won't, as some had feared, create new thresholds for grading banks.
Lenders are scrambling to pause ranchers’ loan payments as meat processing plant shutdowns during the pandemic threaten $25 billion in losses for the livestock industry.
Congress should pass legislation authorizing use of nontraditional data sources to make credit more available to consumers who’ve taken a hit from the coronavirus pandemic.
The Texas bank is leaning on solutions from Lightico and MANTL to quickly set up accounts and handle loans when customers can’t sign documents in person because of the coronavirus emergency.
With rates so low — after steep emergency Federal Reserve cuts in response to the pandemic’s fallout — banks will struggle to generate bread-and-butter interest income and asset-sensitive lenders will face substantial net interest margin contraction this year and next, analysts say.
Saul Van Beurden's team is tasked with keeping systems running during the pandemic, including driving equipment to homebound workers. Yet the bank must continue making upgrades demanded by regulators, investing in new technology and recruiting top talent, he says.
Operation HOPE Chief Executive John Hope Bryant talks about how the Community Reinvestment Act influenced him at the age of 9 and eventually led to the founding of his nonprofit, which works with banks to help communities in need. But he says the 1977 law is outdated.
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.
Democrats’ latest proposal to back debt collectors, enable loans for nonprofits and provide other relief could help steer negotiations with the Senate on more stimulus.
A properly deployed combination of asset-based lending, commercial loans and investment banking is imperative in these circumstances.