Regulations & Policy: Page 88
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Permission granted by Office of the Comptroller of the Currency
Senate fails to overturn OCC's rewrite of CRA
The largely party-line vote was expected. Ninety days remain on the public comment period for the Federal Reserve's answer to revamp the 1977 anti-redlining rule.
By Dan Ennis • Updated Oct. 21, 2020 -
Anna Hrushka/Banking Dive
Fed opens Main Street Lending Program to small, midsize businesses
The Boston Fed, which is administering the program, posted registration documents on its website and is encouraging financial institutions to begin lending "immediately."
By Dan Ennis • Updated June 15, 2020 -
Explore the Trendline➔
Permission granted by Frost Bank
TrendlineTop 5 stories from Banking Dive
Since the approval of Capital One’s acquisition of Discover, banks have increasingly waded into new deals. Beyond that, they’ve doubled down on strategy, from organic growth to branch placement to app design.
By Banking Dive staff -
Banks' video hiring may be here to stay, but interviewing is changing
Preparation is crucial to avoiding awkward communication when screens replace candidates' in-room presence, executives say.
By Ken McCarthy • June 5, 2020 -
Courtesy of Wells Fargo multimedia resources
Big banks took $11.7B in overdraft fees last year, nonprofit says
About 9% of account holders paid 84% of the $35 fees, according to data from the Center for Responsible Lending, which wants regulators to bar banks from charging for negative balances during the pandemic.
By Dan Ennis • June 4, 2020 -
Trump signs revised PPP rules into law
The Senate passed a bill Wednesday that reduces to 60% the proportion of loans that must be put toward payroll and gives small businesses 24 weeks to use the funds.
By Dan Ennis • Updated June 5, 2020 -
Permission granted by Office of the Comptroller of the Currency
COVID-19 lockdowns threaten banking system's stability, OCC says
"Requiring businesses to remain closed decreases businesses' ability to service their debt, thus increasing default risk in the banking system," the regulator's acting chief said.
By Anna Hrushka • June 2, 2020 -
Morgan Stanley, TD Bank take opposite tacks on post-COVID office return
The investment bank wants to begin sending its traders back to its New York headquarters in mid- to late June. Meanwhile, all six of Canada's biggest banks pledged to keep their employees out of downtown Toronto until September.
By Dan Ennis • Updated July 30, 2020 -
Alabama Extension. (2020). "The image" [Photograph]. Retrieved from Flickr.
House passes bill to ease PPP payroll rule, triple spending period
The legislation, which also extends the time recipients have to repay the loan from two to five years, heads to the Senate, which reconvenes Monday.
By Anna Hrushka • May 28, 2020 -
Banks face logistical, security challenges with branch reopenings
The right date to allow lobby foot traffic — and the proliferation of face masks — present just two tests in post-pandemic banking.
By Anna Hrushka • May 28, 2020 -
Column
HSBC, Deutsche take divergent paths in resuming overhauls
Britain's leading lender stresses urgency in demanding more radical restructuring, while Germany's largest bank courts employee buy-in.
By Dan Ennis • May 27, 2020 -
Permission granted by Provident Bank
Pandemic not discouraging Provident Bank's acquisition plan
"When we announced the deal, the market was getting hammered," Provident Bank CEO Chris Martin told Banking Dive. "We're going to be better together than separate, so why not continue?"
By Anna Hrushka • May 27, 2020 -
Community groups plan to sue OCC over CRA revamp
The agency says its changes are aimed at "strengthening and modernizing" the anti-redlining law, but community groups say the overhaul will allow banks to lend less to lower-income areas.
By Anna Hrushka • May 26, 2020 -
Survey: 3 in 4 PPP borrowers confused by loan's terms
The uncertainty leaves some recipients reluctant to use the funds, even though new guidance doesn't expand the eight-week window. Waning interest in the program is spurring some banks to stop taking new applications.
By Dan Ennis • May 26, 2020 -
Permission granted by Office of the Comptroller of the Currency
OCC defends timing, lack of regulatory support for CRA revamp
The absence of lock-step with the Federal Reserve and the FDIC — and the rule's quick turnaround — led one advocate to call it an "administrative fiasco."
By Anna Hrushka • May 21, 2020 -
Expect more PPP fraud cases as DOJ moves past 'low-hanging fruit'
The speed with which the SBA and Treasury Department set up the program, and the volume of loans funneled through it, means more cases are likely to emerge, an attorney says.
By Anna Hrushka • May 20, 2020 -
OCC releases CRA overhaul as Otting prepares to step down
The 372-page rule adds new data collection requirements and tweaks the asset thresholds for participating banks, but neither the FDIC nor the Fed joined the OCC on the new low-income lending guidelines.
By Dan Ennis • May 20, 2020 -
2018 asset cap has cost Wells Fargo $220B in market value
The bank's biggest competitors have seen a swell in deposits during the pandemic, as customers flee smaller banks for more security. But Wells Fargo's deposit bump was much smaller in the first quarter, by comparison.
By Dan Ennis • May 19, 2020 -
Alabama Extension. (2020). "The image" [Photograph]. Retrieved from Flickr.
PPP is failing Black, Latino-owned businesses, survey shows
A partnership specializing in getting loans to nonwhite businesses has launched, but some companies are exhausted by the constant tweaks to the program. And Congress is planning more.
By Dan Ennis • May 18, 2020 -
Regulators temporarily ease bank leverage ratio requirements
The FDIC and OCC estimate the interim rule, which will be in effect through March 2021, would relax bank capital requirements by as much as $55 billion.
By Anna Hrushka • May 18, 2020 -
JPMorgan's Gemini, Coinbase play is a crypto industry 'roadmap,' analyst says
While concerns over fraud and money laundering have made banks hesitant to link up with crypto firms, the regulatory gains Gemini and Coinbase have made could signal those risks are diminishing.
By Anna Hrushka • May 15, 2020 -
Column
Fed reprimand, resumption of job cuts overshadow Deutsche's green pledge
The coronavirus "made it even more of an imperative that we stick to our transformation plan" to slash 18,000 positions by 2022, two bank executives wrote in a memo to staff.
By Dan Ennis • May 14, 2020 -
Pandemic halts Suncoast Credit Union's acquisition of Apollo Bank
"The COVID-19 virus changed the value of our agreement and left us with an unpredictable future," Suncoast CEO Kevin Johnson told Banking Dive.
By Anna Hrushka • May 13, 2020 -
House Democrats attach pot banking bill to $3T coronavirus relief package
The bill's inclusion in the package follows multiple calls from lawmakers and advocates who say the largely cash-based cannabis industry poses health and safety risks to business owners and consumers.
By Anna Hrushka • Updated May 12, 2020 -
Permission granted by Piermont Bank
Deep DiveDe 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 -
Lawmakers look to tweak PPP as loan processing stalls
Backlogs have cleared up. Duplicate applications have been stripped from the process. But backlash from PPP's shortcomings leave Congress pitching new solutions.
By Dan Ennis • May 11, 2020
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