PPP forgiveness, adapting to COVID, Wells and BofA scrutiny: Prime tales of 2020


In a 12 months rife with uncertainty about, properly, just about all the things, it is not stunning {that a} listing of American Banker’s most-read tales in 2020 can be dominated by accounts of lenders and regulators attempting to navigate the Paycheck Safety Program on the fly.

A lot of the dialogue centered on how simple it could supposedly be for loans funneled by way of the SBA program, an unprecedented authorities lifeline for small companies, to be forgiven. A bunch of points with the forgiveness course of stay largely unanswered as we head into the brand new 12 months.

Continued fallout from Wells Fargo’s phony-accounts scandal and new questions on customer support practices at Financial institution of America additionally resonated with readers, as did a narrative on banks’ continued push to make “banking by Alexa” a factor.

The highest spot, nevertheless, was reserved for a chunk that got here within the early days of the pandemic discussing how monetary establishments would adapt to the COVID-19 precautions and lockdowns. Their options concerned a mixture of one thing new (digital on steroids), one thing outdated (the comeback of the drive-through!) and a variety of laborious work. The story, like many pieces this year, confirmed the business’s resilience and resourcefulness find methods to maintain supporting the communities it serves.

With all that, listed below are American Banker’s prime tales of the 12 months.


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