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Wells Fargo Taps Former Mastercard Exec To Run Merchant Services

PYMNTS

26, and she will be based in New York City. Last month, Wells Fargo also added four new executives to its roster. The company revealed that David Kowach has been named head of community banking, while Jim Hays has come on board as president and head of Wells Fargo Advisors. Her first day will be Aug.

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Are banks taking advantage of the CECL extension?

Independent Banker

The CARES Act extended the CECL implementation deadline for many larger community banks until the end of the COVID-19 pandemic. Community bankers tell us that while the extension is welcome, they’re already down the road to implementation. ICBA tells FASB CECL isn’t feasible for community banks. By Stephanie Vozza.

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Lack of an M&A Strategy May Leave You Dateless at the Prom

Gonzobanker

The number of banks will continue to shrink from the present 6,700, and we won’t ever see more banks than we have today. While we may see an uptick in the number of new bank charters from the near zero we have today, too many other industries with less regulation will attract capital. Sure – but slowly.

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The community banks standing by hospitality customers

Independent Banker

Many hotels and other hospitality businesses haven’t fully bounced back from COVID-19 travel and safety restrictions, but community banks have been by their side through the challenges. billion-asset MainStreet Bank in Fairfax, Va. The bank also helped hotel operators obtain Paycheck Protection Program (PPP) loans.