Fed looks to overhaul laws meant to make sure lower-income Americans have access to loans

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.
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The credit union that aims to be a "lifeboat" in times of crises

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

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

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

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

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

Citi plans to buy PPP loans from minority-owned lenders

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

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

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

How does the Fed find an extra $2.3 trillion?

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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Why small business loans for COVID-19 relief may be delayed

The federal government's guidelines for banks only went out Thursday night — hours before the program was supposed to start.
Can banks really start writing emergency loans to small businesses today as expected?
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Why financial startups are choosing human first names

Nov 13, 2019
In an attempt to seem more trustworthy than big banks, financial startups are giving themselves folksy first names.
Carl Court/Getty Images

CFPB is taking a fresh look at bank overdraft fee rule

Jul 2, 2019
The Consumer Financial Protection Bureau is reviewing a 2009 rule that regulates how banks charge customers who overdraw their checking accounts.
Saul Loeb/AFP/Getty Images