New York Times: Wall Street Grudgingly Allows Remote Work as Bankers Dig In

New York Times: Wall Street Grudgingly Allows Remote Work as Bankers Dig In. “Wall Street is in revolt. Across the financial industry, at firms big and small, workers are slow-walking their return to the office. Bankers for whom working from home was once unfathomable now can’t imagine going back to the office full-time. Parents remain worried about transmitting the coronavirus to their children. Suburban dwellers are chafing at the thought of resuming long commutes. And many younger employees prefer to work remotely.”

New York Times: Racial Bias Skewed Small Business Relief Lending, Study Says

New York Times: Racial Bias Skewed Small Business Relief Lending, Study Says. “From the very start of the Paycheck Protection Program last year, it was clear that minority entrepreneurs, especially Black business owners, struggled more than white borrowers to find a willing lender. A new research project indicates that the problem was particularly pronounced at smaller banks — and human bias appears to be the main reason.”

National Bureau of Economic Research: Banking-Crisis Interventions, 1257-2019

National Bureau of Economic Research: Banking-Crisis Interventions, 1257-2019. “We present a new database of banking-crisis interventions since the 13th century. The database includes 1886 interventions in 20 categories across 138 countries, covering interventions during all of the crises identified in the main banking-crisis chronologies, while also cataloguing a large number of interventions outside of those crises. The data show a gradual shift over the past centuries from the traditional interventions of a lender-of-last-resort, suspensions of convertibility, and bank holidays, towards a much more prominent role for capital injections and sweeping guarantees of bank liabilities.” There’s a prominent link to download a PDF of the paper, but you’ll need to scroll down a little further and look for “Associated Links” to download the dataset.

ProPublica: A Banking App Has Been Suddenly Closing Accounts, Sometimes Not Returning Customers’ Money

ProPublica: A Banking App Has Been Suddenly Closing Accounts, Sometimes Not Returning Customers’ Money. “Chime, a ‘neobank’ serving millions, is racking up complaints from users who can’t access their cash. The company says it’s cracking down on an “extraordinary surge” in fraudulent deposits. That’s little consolation to customers caught in the fray.”

Finextra: Elucidate launches open database on financial crime risk scores

Finextra: Elucidate launches open database on financial crime risk scores. “During a time when financial crime scandals are increasingly common, the [Elucidate FinCrime Risk Monitor] looks to increase transparency in the finance industry. The EFRM evaluates more than 17000 financial institutions, with data sourced from the Elucidate FinCrime Index (EFI), the company’s regulated financial crime risk benchmark.”

The Financial Brand: Introducing the World’s First Interactive Directory of Digital-Only Neobanks

The Financial Brand: Introducing the World’s First Interactive Directory of Digital-Only Neobanks. “Tired of scouring the web as you try to keep up with all the neobanks, challenger banks and digital-only banks out there? Check out The Financial Brand’s new Neobank Tracker — powered by Nymbus. This is the world’s largest interactive, searchable index listing hundreds of digital-only banks and innovative fintechs providing financial services directly to consumers and businesses.”

CNN: This startup is giving customers early access to billions in stimulus checks

CNN: This startup is giving customers early access to billions in stimulus checks. “Big-bank customers complained over the weekend about how their $1,400 stimulus payments were still pending in their bank accounts. Those payments may not arrive until Wednesday, nearly a week after President Joe Biden signed the historic $1.9 trillion economic relief package into law. Newbies in the banking space are moving much faster.”

University of Georgia: New data traces rise, fall of the Freedman’s Bank

University of Georgia: New data traces rise, fall of the Freedman’s Bank. “In 1865, the U.S. government established the Freedman’s Savings and Trust Co. in to help newly emancipated communities gain a financial footing. With 37 branches across the South and in New York, the bank initially flourished and grew to include more than 100,000 customers. But it collapsed in June 1874 after the Financial Panic of 1873. Some of the Freedman’s Bank records have been lost to time, but many still exist. [Professor Malcom] Wardlaw and his Ph.D. student, Virginia Traweek, found the archived records and decided to analyze the data to see what they could discover about African American communities after the Civil War.”

News 4 San Antonio: New bank scams are using information from your social media to hook you

News 4 San Antonio: New bank scams are using information from your social media to hook you. “Local experts say scammers are using information from your social media to hook you and make you think an email is really from your bank. Because of the COVID-19 pandemic, scammers know you’re plugged into your bank account like never before. You might be waiting for a stimulus check, unemployment or a PPP loan – making you primed and ready for any emails that look like they’re from your bank.”

CNBC: Google moves into Venmo and bank territory with checking accounts and updated payment app

CNBC: Google moves into Venmo and bank territory with checking accounts and updated payment app. “The Mountain View, California-based company partnered with Citi and Stanford Federal Credit Union to launch the mobile bank accounts and said it plans to add 11 new partner institutions next year. Google Pay will also let users send peer-to-peer payments — a feature that made PayPal’s Venmo and Square’s Cash App household names as people shift to digital payments during the pandemic.”