Loan Outlook for Banks is Shaky After PPP Ends
Total loans at banks fell by 1.5 percent during the first half of June, according to data compiled by the Federal Reserve; “It’s just ...
Identity Fraud is Soaring and How One Lender is Attacking the Problem
Penny Crosman writes in American Banker about the rise in identity fraud in the past year; citing a Javelin Strategy and Research report it showed ...
New Challenger Bank Point Has Closed a $10.5 Million Series A
Fintech banking app Point (not be to be confused with the real estate fintech) has announced its first major round of fundraising and that it ...
AI Becoming Core Component of Financial Services
According to a 2019 study by Forrester about half of financial services and insurance firms around the world are already using AI; “We are ...
Banks Can Find Huge Opportunity in SMB Accounting & Payments
The Paycheck Protection Program resurfaced the accounting and payments difficulties that many small businesses have and a potentially huge opportunity for banks; as Ron ...
More News for July 2, 2020
Podcast: A glimpse at the role of the bank branch after the pandemic Several banks disclose plans to ...
Chime Launches Credit Builder, a Credit Card That Acts Like a Debit Card
Leading digital bank Chime has launched an innovative new credit card called Credit Builder; surveys have shown that most millennials prefer debit cards to credit ...
Netflix Shifting $100mn to Lenders that Serve the Black Community
The online streaming giant says they will shift 2 percent of cash on hand or $100mn to banks that serve the black community; Netflix ...
Startups Looking to Solve Racial Inequality in Banking
According to data from the FDIC as recently as 2017 about 17 percent of Black households and 14 percent of Hispanic families lack basic ...
Digital Dollar Advocates Testify Before Senate Committee
The Senate Banking, Housing and Urban Affairs Committee held a virtual hearing yesterday on the digitization of money and payments; Christopher Giancarlo, former chairman of ...