The American Bankers Association joined the Bank Policy Institute and the Consumer Bankers Association today in expressing strong opposition to an application for deposit insurance submitted by Rakuten—a major Japanese e-commerce company—for its U.S. bank subsidiary, Rakuten Bank America.
The coronavirus pandemic poses “acute risks” to the survival of many of the nation’s small businesses, the Federal Reserve said today in its semiannual monetary policy report.
AI, machine learning and alternative data are helping banks and nonbanks alike make faster decisions and expand access to credit. While fair lending concerns about “black boxes” have impeded wider adoption of these technologies, the regulatory environment is shifting.
The key question that will determine who wins and who loses in this digital age of banking: “Who controls the customer relationship?”
The share of low-rated commitments in the Shared National Credit portfolio rose slightly between 2018 and 2019, according to the SNC Review released today.
Bank-like activity by nonbanks that poses financial stability risks grew by 1.7% to total $50.9 trillion in 2018, according to the Basel, Switzerland-based Financial Stability Board today.
By looking at recent alternative banking announcements, banks can learn a few things that will help them take their commercial banking to the next level.
The way nonbank online lenders advertise or disclose up-front loan terms and costs for small businesses varies greatly, producing confusion for small business borrowers as online lending gains market share, according to research published Thursday by the Federal Reserve Board and the Federal Reserve Bank of Cleveland.
A recent report by the Basel, Switzerland-based Financial Stability board highlighted significant data gaps that are impeding regulators’ ability to conduct a comprehensive assessment of the financial stability risks associated with the market for leveraged loans and collateralized loan obligations.
Nonbanks should not expect direct access to FedNow, the 24/7/365 payments system the Federal Reserve is developing, according to a top staffer.