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Will PPP runoff expose revenue weakness at banks?

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Fees from forgiven Paycheck Protection Program loans are providing a short-term lift, but balance sheets are shrinking and it isn't clear what will drive future growth.

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Citi, BNY Mellon earn top grades for pay gap disclosures

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Bank of America, Wells Fargo and JPMorgan Chase also received high marks for transparency in reporting how they are paying women and employees of color, but Goldman Sachs, KeyCorp and Citizens Financial Group still have work to do, according to the advocacy investor firms Arjuna Capital and Proxy Impact.

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Three new candidates emerge to head OCC

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Former Obama-era regulators Kara Stein and Sarah Bloom Raskin, as well as Atlanta Fed President Raphael Bostic, have joined the field of potential nominees to lead the Office of the Comptroller of the Currency, according to sources familiar with the process.

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CFPB complaints skyrocket as credit reporting issues again top the list

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Complaints to the Consumer Financial Protection Bureau jumped 54% to 542,300 in 2020. Concerns about credit reports have long outnumbered those in other categories and jumped significantly as a share of the total from 2019.

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U.S. Bancorp tool helps protect overambitious savers

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The Minneapolis company teamed with the fintech Personetics to develop an automated-savings feature on its app that goes beyond most rival offerings by monitoring cash flow and spending to determine safe amounts to set aside.

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Banc of California will buy Pacific Mercantile, ending M&A drought

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Banc of California will buy Pacific Mercantile, ending M&A drought
Banc of California, which last bought a bank in 2013, has agreed to pay $235 million in stock for Pacific Mercantile, which is based in Costa Mesa, Calif.

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The mounting costs of protracted mortgage forbearance

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The FHFA's forbearance extension to September is forcing nonbank servicers to buy out more delinquent loans. It's also upended loss estimates for investors and made racial and income disparities in the mortgage market worse.

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The fintech partnership helping Sterling Bancorp reach kids

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The New York company is seeding savings accounts offered by the challenger bank Goalsetter as a way to help minority communities as well as use technology to start building long-term relationships with young consumers.

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Illinois caps consumer rates at 36%, adopts state-level CRA

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Two banking bills signed by Gov. J.B. Pritzker carry implications for payday lenders, auto title lenders, credit unions and nonbank mortgage lenders. Pritzker, a Democrat, said the bills will address racial-equity gaps in the state.

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Here's the pep talk branch workers need

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Front-line employees yearn to be told they still have a critical role to play, as more customers are seeking in-person help amid the pandemic.

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