Banking

The $2 trillion deal passed by the Senate late Wednesday would aim to put banks and consumers alike on stronger financial footing as they weather the coronavirus pandemic.

The regulation issued late on Tuesday directs state-regulated financial institutions to give mortgage borrowers at least 90 days of forbearance if they can show financial hardship resulting from the coronavirus pandemic. It also requires banks and credit unions to provide relief on ATM fees and credit card late payment fees.

Bankers say they understand the need for an extraordinary government response to the coronavirus outbreak, but worry that even slashing interest rates won’t stimulate demand.

Facebook and other social media platforms are a powerful way to connect members and loan officers, but lenders must ensure they first have a culture of compliance.

The North Carolina company will hold onto the loans after the Fed's decision to slash interest rates.

The company disclosed that an internal review of a now-discontinued loan program found that employees engaged in misconduct tied to income verification and requirements, among other things.

Unity National Bank of Houston, which has reported losses three straight years, is receiving guidance and resources from Citigroup through a Treasury mentoring program.

The Fed’s decision to cut its benchmark interest rate amid growing coronavirus concerns is bound to have an impact on banks, but just how broad and how deep remains to be seen.

MVB in West Virginia will gain a 47% stake in the partnership in exchange for contributing its mortgage unit's assets to the new company.