Small business and small farm loans decreased in 2023 as interest rates rose and lending standards tightened, according to three federal banking agencies with responsibilities for the Community Reinvestment Act (CRA). Compared to 2022, the number of small business loans originated decreased by 5.1% and...
The Federal Deposit Insurance Corp.’s roster of “problem banks” continues to grow. The overall number of those banks — 68 as of the end of the third quarter, up two banks from the second quarter — is at a multiyear high, according to the FDIC’s...
Treasury Secretary Janet Yellen says the next administration should leave “critically important” financial regulations untouched. In an interview with Reuters on Friday (Dec. 13), Yellen said these regulations govern things like banks’ capital levels, liquidity and risk-taking. She said the current system has its flaws...
The upcoming Trump administration is reportedly struggling to find people to head America’s financial watchdogs. The trouble lies with the Republican Party’s eagerness to eliminate or combine the nation’s banking regulators, the Financial Times (FT) reported Sunday (Dec. 15). Perhaps the GOP’s top target, the...
December 10, 2024
Several watchdogs and agencies are sharpening their gaze on FinTechs, specifically bank-FinTech relationships and the risks tied to those partnerships. In July, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corp. (FDIC) and the Office of the Comptroller of the Currency (OCC) issued a request for information on those partnerships […]
November 22, 2024
PYMNTS Intelligence’s long-standing chronicling of the paycheck-to-paycheck economy has revealed shifts in how consumers conduct their daily financial lives and pay. Given that the paycheck-to-paycheck designation blankets roughly two-thirds of...
September 03, 2024
Technology and third-party relationships — with service providers and digitally-focused FinTechs — have helped transform banks’ operations. Banks have been able to pivot fully into the digital age, serving a...
August 12, 2024
New input from the Federal Deposit Insurance Corp. (FDIC) is poised to pave the way for more “branchless banking” — through interactive teller machines that can, conceivably, amp up competition...
December 18, 2024
The Federal Deposit Insurance Corporation (FDIC) board of directors reportedly votedunanimously to authorize potential legal action against six former officers and 11 former directors of Silicon Valley Bank (SVB). This authorization was approved by both Democrats and Republicans on the board, Reuters reported Tuesday (Dec. 17). In past legal actions taken against executives at failed […]
December 16, 2024
Small business and small farm loans decreased in 2023 as interest rates rose and lending standards tightened, according to three federal banking agencies with responsibilities for the Community Reinvestment Act...
December 15, 2024
Treasury Secretary Janet Yellen says the next administration should leave “critically important” financial regulations untouched. In an interview with Reuters on Friday (Dec. 13), Yellen said these regulations govern things...
December 15, 2024
The upcoming Trump administration is reportedly struggling to find people to head America’s financial watchdogs. The trouble lies with the Republican Party’s eagerness to eliminate or combine the nation’s banking...
