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CFPB gets earful from consumers about mortgage servicers

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Complaints to the bureau hit an all-time high in April. More than one in five said servicers wouldn't grant deferrals, forced borrowers into forbearance or violated other requirements of the coronavirus relief law.

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Bisignano's priorities as Fiserv CEO: Bond with banks, invest in tech

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Incoming chief Frank Bisignano downplays any pressure to find $1.2 billion in cost cuts promised to shareholders from the acquisition of First Data. Instead he emphasized his track record of producing revenue growth and pledged to keep funding innovation projects.

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Lenders worry they could be stuck with billions in PPP loans

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Banks could end up holding many low-rate Paycheck Protection Program loans on their books for two years, and dealing with irate borrowers who failed to meet federal requirements for forgiveness.

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Banks tore up digital scripts once pandemic hit

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U.S. Bancorp, Wells Fargo, WSFS and others were already deeply engaged in digital transformations before the coronavirus crisis led them to pivot — quickly.

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Banks' back-to-the-office playbook

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Financial institutions are looking for a way to return some employees to their workplaces while prioritizing safety. The answer may involve contact tracing technology and the automation of a wide range of activities.

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Borrowers may fall shy of PPP forgiveness standard, watchdog warns

Georgia County Steels Itself to Reopen Despite 10% Death Rate
Businesses stand temporarily closed in downtown Cartersville, Georgia on April 22. Photographer: Dustin Chambers/Bloomberg
Dustin Chambers/Bloomberg
The Small Business Administration's inspector general also flagged a number of shortcomings in the implementation of the Paycheck Protection Program.

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Coronavirus through the eyes of front-line bankers

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Often overlooked in narratives about essential workers, branch and call-center employees are responding to challenges posed by the COVID-19 crisis. They've processed emergency-relief loans late into the night, coached customers unfamiliar with mobile banking and made house calls to elderly account holders.

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Is Fed taking too long on middle-market loan relief?

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The agency is being methodical in its rollout of the Main Street Lending Program in hopes of avoiding missteps that followed the launch of other coronavirus relief efforts. But observers say delaying aid brings its own risks.

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Battered by coronavirus crisis, online lenders face reckoning

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The upstarts enjoyed rapid growth during the long economic expansion. Now they are on the ropes.

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Why Samsung is following Apple, Google into consumer banking

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In announcing its plan to offer a deposit account and debit card in partnership with SoFi, the mobile phone maker suggested that the coronavirus pandemic will accelerate consumers' adoption of contactless payments.

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CFPB News & Analysis Servicing Fiserv Paycheck Protection Program Digital banking Coronavirus Middle market Disruptors
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