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Fed extends dividend restrictions after stress test results
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Fifth Third Bank Partners with Blend to Transform Mortgage Process
Blend s Digital Lending Platform Offers Simple Solution For Home Buying and Refinancing
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SAN FRANCISCO, Dec. 17, 2020 /PRNewswire/ Fifth Third Bank, National Association, today announced a strategic partnership with
Blend, a leader in digital lending technology, to digitize its mortgage process in a time when home purchasing has reached its highest levels in more than a decade.
Growing customer demand and increased comfort with digital experiences further accelerated by the pandemic has driven the need for financial institutions to prioritize digital experiences to better engage their customers. The partnership with Blend is one more initiative in the bank s customer-centric digital strategy to enable a simple and efficient end-to-end mortgage experience.
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On November 9, 2020, the Supreme Court declined to consider an appeal from the Second Circuit Court of Appeals in
Retirement Plans Committee of IBM v. Jander, leaving unresolved for now questions about the specificity required by the “more harm than good” pleading standard in stock drop litigation against ERISA plan fiduciaries. The November ruling was the second time this year the Court refused to consider the merits of the Second Circuit’s decision. We summarized the first Supreme Court decision and its background here.
As explained in our earlier post, in January 2020 the Supreme Court sent the case back to the Second Circuit after concluding that the IBM plan fiduciaries and the federal government (on behalf of the SEC and the Department of Labor) had primarily advanced arguments that were not raised in the lower courts. Specifically, the IBM plan fiduciaries asserted that ESOP fiduciaries have no duty under E
To lend to doctors, banks get an assist from fintechs
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Taking some of its biggest steps ever to support Black Americans, Fifth Third Bancorp is committing nearly $3 billion to fight against racism.
Fifth Third Bank just announced that it will make the commitment over the next three years to help fortify diverse customers. Some $2.2 billion of the pledge by the Cincinnati-based bank will be used for lending and $500 million for investments.
Fifth Third Executive Vice President Kala Gibson (file)
Another significant step to address racial equality was the formation of an Executive Diversity Leadership Council (EDLC). Kala Gibson, the council’s executive sponsor, chief enterprise responsibility officer and head of Business Banking, stated, “We will continue to review policies and practices to evaluate where comprehensive improvements can be made so that the Bank’s employees, customers and communities are fully supported.”
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