Beyond the immediate changes required by social distancing, the COVID-19 pandemic has “accelerated things that were in progress for a long time,” says Frank Sorrentino, chairman and CEO of ConnectOne Bank.
With the World Health Organization’s recent recognition of evidence that the novel coronavirus can be aerosolized in particles that remain in the air for long periods over long distances, how do banks need to adjust their COVID-19 risk mitigation procedures?
When COVID-19 accelerated customer movement into mobile and online banking solutions, and triggered consumers to push their funds into bank accounts, banks that had made investments in the digital customer experience were positioned to capitalize.
Wendy Cai-Lee leads one of the latest crop of U.S. de novo banks: Piermont Bank, opened to address “pain points” faced by middle-market businesses.
Based in San Francisco and leading California’s market for the Bank of Guam, plus currently serving as chairman of the Western Bankers Association, Dave Joves shares a trans-Pacific view of banking on the latest episode of the ABA Banking Journal Podcast.
The OCC is planning to unveil what Acting Comptroller Brian Brooks called “payments charter 1.0” as soon as this fall, Brooks said on the latest episode of the ABA Banking Journal Podcast.
First Independence Bank was founded 50 years ago to help rebuild Detroit’s economy in the wake of damaging urban violence. Today, in a new era of economic hardship due to the coronavirus pandemic, and protests and unrest in response to incidents of racial injustice, minority depository institutions continue to have a unique role in serving distressed communities.
In a matter of days, bankers rallied to deliver hundreds of billions of dollars in loans to support Americans’ jobs amid the coronavirus pandemic. The stakes: the survival of the small business economy on which every bank and community relies.
Through the Small Business Administration’s Paycheck Protection Program, banks delivered the biggest economic rescue program in U.S. history. Luke Bernstein, EVP at Orrstown Bank in Orrstown, Pennsylvania, discusses his bank’s PPP lending.
The nation’s top economists forecast that the economy will experience a 6% contraction in 2020, with conditions beginning to recover sometime around the third quarter after a sharp second-quarter decline, according to the American Bankers Association’s Economic Advisory Committee.