Planet Hollywood sues BankUnited over unforgiven PPP debt
The show business-themed restaurant, which benefited from a federal loan near the start of the pandemic, says it now owes millions thanks to the Miami-based bank’s “fraud, negligence, and misrepresentations.” A BankUnited spokesperson declined to comment.
The securities that banks are backing away from
This could be the second year in a row that the market for U.S. bank preferred shares has shrunk, something that hasn’t happened since the lenders were replacing obsolete capital after the global financial crisis.
How fraudsters exploit natural disasters
Deadly flash flooding in Texas serves as a reminder of the tactics scammers and fraudsters use against both victims and charitable onlookers.
OCC authorizes bank closures in Texas floods
Following deadly flash floods in Texas, the Office of the Comptroller of the Currency allowed national banks to close branches for safety.
Card, cash or mobile app? People judge your status by how you pay
Research from Cornell University suggests that people assign different levels of social status to others depending on how they choose to pay for goods and services.
Bankers take heart as small businesses show resilience
A pair of surveys released in June indicates that small-business owners have growing confidence, while startup activity and SBA lending are demonstrating continued strength.
Nations chase US trade deals as Bessent hints at extension
Treasury Secretary Scott Bessent indicated that some countries lacking an agreement by the deadline Wednesday will have the option of a three-week extension to negotiate.
Conflict in the Middle East creates a compliance minefield for banks
The ongoing turmoil in the Middle East has highlighted the complexities of successful anti-money-laundering compliance in a conflict zone. U.S. banks need to step up their game in order to stay safe.
The tech trends driving a boom in embedded payments
As AI and digital assets become mainstream, banks are spotting new opportunities to integrate payments with other activities.
A recent shakeup in the mortgage industry could cut junk fees
Rocket Mortgage’s acquisition of Redfin has been mischaracterized as harming competition in the mortgage lending space. The truth is that it could be a major boon for mortgage borrowers.