Fed approves bank expansion despite claims of discriminatory practices
Vantage Bank of Texas will be allowed to add a new branch in Houston, but Fed Gov. Michelle Bowman said the episode highlights the need for new policies around assessing public commentary.
Marketing discrimination suit against Facebook gets a lifeline
The Ninth Circuit Court reversed a prior ruling made in 2021 that dismissed the class action, thereby reinstating the litigation that claims the media giant’s advertising platform allowed for redlining practices.
How to make small-balance mortgage lending profitable
Between 2004 and 2021, the share of originations under $150,000 has declined by 70%, forcing a growing number of consumers to seek alternative forms of financing instead of getting a mortgage, a Pew Charitable Trusts report found.
Insider trading is widespread in a popular corner of the crypto market
So says Solidus Labs, a New York-based company that specializes in ways to monitor suspicious crypto transactions.
Square rounds out banking services with rewards that pay for processing
The Block unit’s new American Express card credits users with $1 in payment-processing fees for every $3 they spend on business expenses. It’s also offering new loan terms and other tools for managing expenses and cash flow.
Successful productions always have talent waiting in the wings
Wise bank managers make sure that they are training employees for their next roles, and creating a deep bench of versatile talent.
These banks have lots of office loans. Here’s why they say it’s OK.
Cullen/Frost, Columbia, Synovus, Valley National and Associated all have relatively large exposures to the office sector, which has been hurt by the popularity of remote work. Their executives point to factors that offer protection, including the geographic composition of their portfolios and the types of buildings that serve as collateral.
Bank execs say cybersecurity is the biggest obstacle to digital banking
About 90% of surveyed bankers said it was their biggest worry, ahead of legacy tech and talent shortage issues.
NCUA’s climate-risk query sparks concern from credit unions
Industry leaders cautioned the National Credit Union Administration against drafting new regulations to address the financial risks associated with climate change.
Nevada seeks receivership for crypto custodian after millions are lost
The 30-page receivership petition filed in federal court on Monday demands an immediate impounding of all assets of Las Vegas-based Prime Trust.