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The agency reported signs of stress on the credit quality in residential loans serviced by seven large banks as a result of the COVID-19 pandemic.

Commercial real estate loans are vulnerable as financial assistance for tenants winds down and might not be fully renewed. Late rent payments could rise, leading lenders to press landlords to pay up.

Chattanooga, Tenn., home sales continued last month to rebound from the coronavirus-spurred slump in the spring, boosting the median price of homes sold during August to an all-time high.

Deborah Matthews Phillips is senior vice president of payments and technology policy at the Independent Community Bankers of America.

Grant Halloran is the CEO at Planful. He has over 20 years of senior leadership experience in enterprise software, a career to date marked by positions where he drove high growth and global expansions.

Mortgage applications increased 6.8% from one week earlier as this summer's surprise purchase demand has carried over to the fall, according to the Mortgage Bankers Association.

Under fire for saying that the potential pool of talent is "limited," CEO Charlie Scharf issued a memo to employees Wednesday acknowledging that his words reflected his own "unconscious bias" and vowing to improve diversity in the bank's leadership.

Jim Buffington, CPA, is an advisory services leader with Intuit Accountants. He has 20+ years of professional experience in sales management, public accounting, strategic alliances, product marketing, business process design, new business development and strategic planning. Connect with Jim on Twitter @jimatintuit.

The company also found a buyer for its portfolio of equipment finance loans as it tries to clean up credit and refocus on middle-market lending.