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Stories Tagged as

Banks

Big banks' profits are doing better than the economy

by Justin Ho
Jan 15, 2021
They've been raking in money thanks to the strong stock market, companies' appetite for debt and initial public offerings.
Spencer Platt/Getty Images
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New Trump administration rule limits large banks' ability to turn away business

by Andy Uhler
Jan 15, 2021
Large banks can't deny services to businesses, like gun-makers and oil drillers, just based on what they do.
The rule prohibits large banks from refusing to lend to certain business sectors, after Republicans voiced frustration at what they saw as a reluctance by banks to finance gun-makers and energy firms.
Jim Watson/AFP via Getty Images
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COVID-19

Community banks are thriving. Bankers worry it won't last.

by Justin Ho
Dec 11, 2020
A recent FDIC report found that community bank profits rose last quarter, thanks to fee income from PPP loans and mortgage refinancing.
La Salle State Bank in Illinois outsourced management of its ATMs to save costs.
John Moore/Getty Images
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Fed looks to overhaul laws meant to make sure lower-income Americans have access to loans

by David Brancaccio , Candace Manriquez Wrenn , Erika Soderstrom and Alex Schroeder
Sep 22, 2020
The law is meant to demand that when banks take deposits from a particular area, they also make loans there.
The Federal Reserve building in Washington, D.C.
Chip Somodevilla/Getty Images
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The credit union that aims to be a "lifeboat" in times of crises

by Kai Ryssdal and Sean McHenry
Aug 26, 2020
Bill Bynum says Hope Credit Union is his ministry, giving predominantly Black communities a place to bank.
Bill Bynum
Courtesy of Hope Credit Union
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COVID-19

One reason why Black-owned businesses have fared worse in the pandemic: weaker banking relationships

by Kristin Schwab
Aug 4, 2020
That leaves them restricted access to capital, according to a study by the New York Fed.
A beauty product booth at a Black-owned business expo in Florida. The number of Black business owners in the U.S. fell more than 40% between February and April, according to a New York Fed study.
Octavio Jones/Getty Images
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COVID-19

Quarterly bank earnings may tell a bigger story about the U.S. economy right now

by Mitchell Hartman
Jul 13, 2020
Banks touch many sectors of the economy, that may be struggling — or thriving — during the COVID-19 pandemic.
Chris Hondros/Getty Images
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COVID-19

Citi plans to buy PPP loans from minority-owned lenders

by Justin Ho
May 21, 2020
The arrangement would allow minority-owned lenders to take PPP loans off of their balance sheets.
Citi says it will purchase $50 million in loans from minority-owned lenders.
Bruce Bennett/Getty Images
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COVID-19

Big banks pledge overdraft relief so customers reap full benefits of COVID-19 checks

by Nova Safo
Apr 16, 2020
Big banks say they’ll give customers a temporary break on negative balances.
Stimulus checks are fair game for private debt collectors. But big banks are offering relief for negative balances.
Joe Raedle/Newsmakers
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Econ Extra Credit with David Brancaccio

How does the Fed find an extra $2.3 trillion?

by David Brancaccio and Candace Manriquez Wrenn
Apr 10, 2020
Turns out it's much more akin to printing money than it is to borrowing.
The central bank announced yesterday it's making more money available to counteract the economic effects of the pandemic.
Karen Bleier/AFP via Getty Images
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