Congress Extends PPP Deadline
The Senate passed a bill 92-7 on Thursday to extend the deadline for business owners to apply for forgivable loans through the Paycheck Protection Program, giving applicants two more months to apply for federal aid.
Megabank Economists See Credit Markets Improving by Mid-Year
The chief economists of the continent’s largest banks say they believe conditions in the business and consumer credit markets will improve over the next six months.
Real Estate, Banking Industries Respond to Capitol Siege
Major figures in the banking and commercial and residential real estate industries roundly condemned Wednesday’s attack on the U.S. Capitol Building by supporters of President Donald Trump aimed at halting Congress’ ceremonial affirmation of the 2020 election results.
Changes in Store for Branches as Some Banks Pull Back
With the pandemic driving many customers away from branches and accelerating the adoption of online and mobile technology, banks face the prospect of long-lasting changes to how they interact with customers.
CFPB Finalizes Changes to Qualified Mortgage Rules
The Consumer Financial Protection Bureau has issued final rules that change the requirements for qualified mortgage loans and create a new category of QMs.
ABA Recommends Face Masks in Banks
With the rise of coronavirus cases across the U.S. this summer, especially in southern and western states, the American Bankers Association has recommended that banks require anyone entering a branch to wear a face mask.
Supreme Court Lets Field of Membership Expansion Go Ahead
The United States Supreme Court declined on Monday to review a lawsuit by the American Bankers Association against the National Credit Union Administration, upholding a 2016 rule change affecting field of membership.
Billions of Dollars in PPP Funds Go Unclaimed
Billions of dollars offered by Congress as a lifeline to small businesses struggling to survive the pandemic are about to be left on the table when a key government program stops accepting applications for loans.
OCC Head Otting to Step Down Next Week
A day after releasing long-planned updates to the Community Reinvestment Act, Comptroller of the Currency Joseph Otting resigned, effective May 29. The OCC’s first deputy and Chief Operating Officer, Brian Brooks, will become acting comptroller of the currency, the OCC announced Thursday.
Webster Bank’s Kathy Luria Wins National Service Award
The American Banker’s Association Foundation has named Webster Bank’s Kathy Luria winner of the 2019 George Bailey Distinguished Service Award.
Fed to Build Own Real-Time Payments System
The Federal Reserve announced today it will challenge a banking industry-backed group for real-time payments customers by developing its own system.
American Bankers Association Signs on as Partner of Alloy Labs Alliance
The Alloy Labs Alliance, a consortium of community and regional banks looking to quicken the pace of innovation across the industry for smaller banks, has added a big partner to the mix.
In Broadside, ABA Calls for ‘Top-to-Bottom’ Assessment of CU Industry
The industry has long been a vocal critic of the corporate tax exemption that credit unions enjoy, as well as what some might call an overreach when it comes to credit unions’ field of membership expansions and some of the services they provide.
Survey: Americans Have Favorable View of Online and Mobile Banking
A high majority of Americans are very pleased with their mobile banking experiences.
Stakeholders Come Together for 35 Fintech Events in Boston
Earlier this month, organizations and stakeholders from across the finance ecosystem came together for Boston Fintech Week, a volunteer-led, grassroots effort that put together 35 free events in Downtown Boston.
MVCU/BCU Merger Efforts Derailed by Federal Court Decision
It’s not often that the effects of a federal court decision can be immediately seen at the local level.
Trump Focuses On Regulatory Relief In Talks With Community Bankers
Community bankers who met with President Donald Trump yesterday expressed optimism that the president would tackle the issue of regulatory relief for smaller financial institutions.
Republicans Introduce Health Savings Act In Effort To Roll Back ACA
As part of an ongoing effort to unwind the Affordable Care Act, three Republican lawmakers yesterday introduced a piece of legislation intended to expand eligibility for health savings accounts.
ABA Report: New Credit Cards Hit Post-Recession Highs, But Consumers Diligent With Debt
The number of new credit card accounts and monthly purchase volumes continued to expand this year, according to the American Bankers Association’s latest Credit Card Market Monitor.
Berkshire Bank Receives National Recognition For Volunteer Participation
The American Bankers Association recently honored Berkshire Bank for its corporate volunteer efforts through the Community Commitment Awards program.
