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Banks lobby Congress to postpone PPP deadline

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The Small Business Administration is still writing rules for the Paycheck Protection Program two months after its relaunch. Lenders fear they may not have enough time to review those rules before the program's March 31 expiration date.

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Wells Fargo promotes veteran executive to new ESG post

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Geneviève Piché, who has worked in investment banking at the company for 20 years, will be in charge of helping corporate clients make environmentally and socially responsible investments.

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Biden's CFPB nominee puts loan servicers, credit bureaus on notice

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Rohit Chopra, President Biden's pick to lead the Consumer Financial Protection Bureau, told a Senate panel he would do more to protect veterans from foreclosure, empower consumers to dispute data on their credit records and crack down on student loan servicers that aren't helping troubled borrowers.

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CRE lenders' growing fear: Office workers won't come back

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Already contending with stressed retail, hotel and restaurant loans, bankers are beginning to view office lending — historically a safe bet — as increasingly risky as companies of all types rethink their space needs.

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The national debt is big and getting bigger. Does it matter?

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As government debt swells, the outer limits of what the U.S. can safely borrow are becoming less and less clear.

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Capital One board expands to add Facebook, Nike executives

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The new directors are Ime Archibong, whose team builds and tests mobile apps at Facebook, and Craig Williams, president of the Nike product line named after former NBA superstar Michael Jordan.

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How the pandemic has changed small banks' views of CRE

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Community banks, which for years have relied heavily on commercial real estate lending, have been tightening underwriting standards, conducting more frequent loan reviews and stepping back from certain subsectors to minimize their credit exposure.

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Microsoft wants bigger piece of cloud banking market

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The company is emphasizing the software interoperability of the service it's launching that caters to banks, which are making huge investments in cloud computing. It will face off against big-tech rivals in the market like IBM, which touts the security and compliance features of its year-old offering.

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CFPB pick's past statements set stage for testy confirmation hearing

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Rohit Chopra, President Biden's nominee to lead the Consumer Financial Protection Bureau, has not minced words in calling out private companies for wrongdoing. He could get a grilling from Banking Committee Republicans and some opposition on the Senate floor.

(Full story here.)

Square's long-planned bank opens for business

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The payment processing company will offer loans and deposit accounts to its small-business customers through a Utah-based industrial bank.

(Full story here.)
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