Bank of America backtracks on lending ban to some gunmakers
The bank backed off its ban on lending to companies that make assault-style guns used for non-military purposes. Instead, the firm will now make such decisions on a case-by-case basis with senior risk officers.
Joint Press Release: Agencies Issue Host State Loan-to-Deposit Ratios
JOINT PRESS RELEASE | MAY 31, 2024 Board of Governors of the Federal Reserve SystemFederal Deposit Insurance CorporationOffice of the Comptroller of the Currency____________________________________________________________ Agencies Issue Host State Loan-to-Deposit Ratios Federal bank regulatory agencies today jointly issued updated host state loan-to-deposit ratios that are used to evaluate compliance with the Riegle-Neal Interstate Banking and Branching […]
Embedded finance opportunities beckon large banks
The rise of ecommerce and vertical software-as-a-service platforms are prime opportunities for large banks to sell payment processing, card issuance and other banking capabilities.
Streak of bank sales to credit unions heats to record pace
Atlanta Postal Credit Union’s bid to acquire Affinity Bank marked the 11th deal overall this year involving a credit union buying a bank, matching the total for all of 2023. Separately, members voted against the merger of two credit unions in Indiana.
Press Release: FDIC Issues CRA Examination Schedules for Third Quarter 2024 and Fourth Quarter 2024
PRESS RELEASE | MAY 31, 2024 FDIC Issues CRA Examination Schedules for Third Quarter 2024 and Fourth Quarter 2024 WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today issued the lists of institutions scheduled for a Community Reinvestment Act (CRA) examination during the third quarter 2024 and fourth quarter 2024. CRA regulations require each federal […]
The state of self-checkout at major retail stores
Retailers like Walmart, Target and Dollar General are changing the ways they collect payments in person. This, in turn, could influence payment habits, but it is unlikely to slow the overall momentum of digital transactions.
Press Release: FDIC Makes Publish April Enforcement Actions
PRESS RELEASE | MAY 31, 2024 FDIC Makes Publish April Enforcement Actions No Administrative Hearing Scheduled for June 2024 WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in April 2024. There are no administrative hearings scheduled for June 2024. The […]
With the latest existential threat gone, will the CFPB finally grow up?
A former Consumer Financial Protection Bureau senior counsel argues that the agency needs to renew its focus on institution-building, in order to create a stable foundation on which the financial services industry, as well as its own employees, can rely.
CFPB launches mortgage closing costs inquiry
The announcement comes after weeks of criticism from the bureau’s director over fees including title insurance and credit scores.
City National shows progress, offers 18-month timeline for turnaround
The beleaguered Los Angeles-based bank reported its strongest quarterly results in more than a year, but executives at its Canadian parent company cautioned that improvements may not be linear.