No. 1 SBA lender Huntington pursuing national expansion
As it pushes the boundaries of its Midwestern footprint, the Columbus, Ohio-based bank is on pace to book more than 6,000 7(a) loans in SBA’s 2023 fiscal year, the biggest total in seven years.
FDIC dings three more companies for false deposit insurance claims
FDIC directed three companies Thursday to stop making false and misleading statements about FDIC deposit insurance, its most recent effort to clamp down on misleading representations.
McHenry takes aim at revival of FSOC’s designation authority
House Financial Services Committee Chair Rep. Patrick McHenry, R-N.C., pressed the Financial Stability Oversight Council on the resurrection of its ability to designate nonbanks as systemically important.
dLocal co-founder takes hands-on role to tap cross-border opportunity
Sergio Fogel is taking on a new role as co-president and chief strategy officer to help the fintech battle rivals across the globe.
LGBTQ Americans are still struggling to achieve financial equality
Pride month is the perfect time to take a hard look at the discrimination that LGBTQ people face in the financial services industry, particularly when it comes to obtaining credit.
Fed launches master account database
The Federal Reserve will now disclose all entities that have access to its payments system, as well as those that are seeking access. The move ends a yearlong standoff with Congress.
CFPB seeks to supervise Big Tech firms under larger participant rule
The Consumer Financial Protection Bureau plans to issue a larger participant rule that would allow the agency to examine consumer payment markets. The rule will allow the CFPB to examine and supervise Big Tech companies such as Apple, Alphabet’s Google, PayPal and Square.
Customers Bancorp buys $631 million loan portfolio from FDIC
Customers is also adding a team of bankers that had worked on the financing.
ConnectOne CEO says banks well-prepared for rough ride in 2023
Loan demand slowed, deposit costs jumped and credit quality became vulnerable, but veteran banker Frank Sorrentino sees more positives than negatives for community banks, particularly when interest rates level off.
Regions gives customers an extra day to avoid overdraft charges
The Alabama bank, which has been sanctioned by regulators for its overdraft practices twice in the last eight years, joins several competitors that already offer a grace period to overdrawn customers.