De novos see silver lining amid coronavirus pandemic

It's a difficult time to launch any business, much less a bank. But the timing comes with opportunities and challenges, industry leaders say.

By Anna Hrushka • May 11, 2020

The impact of the Paycheck Protection Program on the banking industry

May 7, 2020

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M&A

President Donald Trump’s reelection was predicted to yield loosened regulation. But tariff volatility and economic uncertainty has thrown a wrench into an expected boom in mergers and acquisitions.

By Banking Dive staff

Capital One employees to stay remote through at least Labor Day

A number of big banks are pondering how and when to return to the office. One potential plan at JPMorgan Chase would have employees working remotely on a rotating basis, reducing demand for office space.

By Dan Ennis • May 6, 2020

Do bank branches have a future? Pandemic reveals ultimate 'A/B test'

Many customers turned to digital options once banks began temporarily closing branches in March. Most may not be missing the trip.

By Anna Hrushka • May 6, 2020

2 men charged with fraud over PPP loan applications

David Staveley claimed he had dozens of employees at three restaurants. He only owned two, and neither was open when the coronavirus pandemic hit, the Justice Department found.

By Dan Ennis • May 6, 2020

Regulators give Tennessee de novo conditional approval

RockPoint Bank is Tennessee's third new bank to open since 2008. Executives told Banking Dive in 2020 it had hoped to open by Oct. 31.

By Anna Hrushka • Updated March 22, 2021

Israeli bank fined $900M over tax evasion, role in soccer bribery scandal

The enforcement action against Hapoalim comes as regulators hit banks with a near-record $10 billion in fines over 15 months, a figure European startup Fenergo expects will increase.

By Anna Hrushka • May 4, 2020

75% payroll rule makes PPP loans useless, entrepreneurs say

Small-business owners need help with operational costs, which the government's program fails to cover without risking loan forgiveness.

By Robert Freedman • May 4, 2020

Fed expands Main Street program, cuts loan threshold by half

The central bank is including larger companies, but some small-business advocates and industry leaders say the $500,000 minimum loan is still too high.

By Anna Hrushka • May 1, 2020

SBA gives small lenders 8-hour PPP window, drawing big banks' ire

"Many small businesses went to banks over $1 billion to help provide for their family," Richard Hunt, president and CEO of the CBA, tweeted Wednesday. "Don't play favorites with small businesses. All need a lifeline right now."

By Anna Hrushka • April 30, 2020

Wells Fargo's ties to NRA 'declining,' CEO Scharf says

The lender has been winding down its relationship with the gun lobby over the past two years, a bank spokesman said. Wells had arranged $431 million in debt for gunmakers between 2012 and 2018, Bloomberg data shows.

By Dan Ennis • April 29, 2020

Credit union trade group questions PPP's batch processing system

The 5,000 minimum required to submit loans in batches is too high to benefit smaller lenders like credit unions, CUNA Chief Advocacy Officer Ryan Donovan told Banking Dive.

By Anna Hrushka • April 29, 2020

Day 1 of PPP's Round 2 didn't bring the refresh bankers wanted

Technical glitches and overwhelming demand again took down the SBA's loan processing system, as lenders ponder all-nighters, equality and copious screen-checking.

By Dan Ennis • April 28, 2020

Lenders get 2nd chance to correct PPP flaws

Despite some negative press, the first rollout of the SBA program has let some banks prove they can help their customers even in the worst of times, said David Zaring, a Wharton professor of legal studies and business ethics.

By Anna Hrushka • April 27, 2020

Lenders report PPP portal access issues minutes after relaunch

"The difference between this program and unemployment is if you qualify for this program, it’s like getting unemployment authorization and then having a footrace to the office," Bank of America CEO Brian Moynihan said Sunday.

By Dan Ennis • Updated April 27, 2020

House passes $484B relief package, including $320B for PPP loans

Despite the flaws associated with the first round of funding — from last-minute guidance to a portal outage to alleged borrower favoritism — the new infusion is expected to be available only briefly.

By Dan Ennis • April 23, 2020

Moven's lean toward B2B was part reach, part mission, CEO says

"Part of our original vision ... was to improve the lives of tens of millions of consumers, so that becomes a more critical imperative for us ... versus what type of a business model we have," Moven CEO Marek Forysiak said.

By Kate Patrick Macri • April 23, 2020

$60B carveout for small lenders doesn't solve PPP's problems, fintech exec says

The set-aside should have taken into account the size of loan, not the bank, Funding Circle's Ryan Metcalf told Banking Dive.

By Anna Hrushka • April 23, 2020

Coronavirus delays First Horizon's acquisition of 30 Truist branches until Q3

The Memphis-based bank's proposed merger with IberiaBank should still close on schedule, CEO Bryan Jordan said. Shareholders are set to vote Friday on the deal.

By Dan Ennis • April 22, 2020

Reciprocal deposits can help community banks save small business

Allotting space on their balance sheets allows banks to immediately increase lending to small businesses before having to scour for additional deposits, writes Tom Nelson, CIO at Reich & Tang.

By Tom Nelson • April 22, 2020

Citi pledges to stop thermal coal-mining financing by 2030

The nation's third-largest bank has long been a green stalwart, reaching a goal to finance $100 billion of activities to address climate change four years ahead of schedule.

By Dan Ennis • Updated July 28, 2020

'Hours matter' as fintechs angle for new wave of PPP money

Nonbank lenders are better positioned this time, but the new infusion may last only a couple days, a trade group leader says.

By Anna Hrushka • April 21, 2020

As lawmakers near new PPP deal, banks and fintechs gear up for Round 2

An abundance of caution from big banks and late entry from fintechs gave small banks an edge, as institutions with $10 billion or less in assets doled out 60% of PPP small-business loans.

By Dan Ennis • April 20, 2020

Truist reports 31.6% profit, weighs COVID-19 impact

The pandemic could affect the timeline of the bank's $1.6 billion post-merger cost-savings goal, which it plans to hit by the end of 2022.

By Anna Hrushka • April 20, 2020

Houston de novo Agility eyes a female front office and a tech focus

"It became clear that we needed to set an example and provide opportunities for women to be at the level they deserve to be at," CEO Lauren Sparks told Banking Dive.

By Hillary Richard • April 17, 2020