One Wells Fargo branch has voted to unionize. Here’s what’s next.
The vote by workers in a New Mexico branch is the first union victory at a megabank in decades, though unionization efforts at another Wells branch took a step back.
Feds’ suit depicts predatory mortgage lending in the social media age
The Justice Department and the Consumer Financial Protection Bureau are suing a real-estate developer over an alleged bait-and-switch land-sale scheme near Houston. The developer used TikTok and other social media sites to lure Hispanic immigrants into predatory loans, the government alleges.
Iowa bank names a New York banker as CEO
Lincoln Savings Bank has tapped Sean Willett, chief administrative officer at Financial Institutions, as its next leader after a six-month search.
The Future of Small Business Banking with Truist’s Scott Stearsman
The head of small business at Truist Bank discusses how regional banks are operating in this market, in conversation with American Banker Editor-in-Chief Chana Schoenberger.
Joint Press Release: Agencies Release Annual Asset-Size Thresholds Under Community Reinvestment Act Regulations
JOINT PRESS RELEASE | DECEMBER 20, 2023 Board of Governors of the Federal Reserve SystemFederal Deposit Insurance Corporation____________________________________________________________ Agencies Release Annual Asset-Size Thresholds Under Community Reinvestment Act Regulations The Federal Reserve Board and the Federal Deposit Insurance Corporation today announced the 2024 updated asset-size thresholds used to define “small bank” and “intermediate small bank” under […]
FDIC Board of Directors Meeting (12/20/23)
BOARD MATERIALS | DECEMBER 20, 2023 FDIC BOARD OF DIRECTORS MEETING Today the Federal Deposit Insurance Corporation’s Board of Directors met in an open session. The agenda items included: the 2024 FDIC Operating Budget, and the Final Rule on FDIC Official Signs and Advertising Requirements, False Advertising, Misrepresentation of Insured Status, and Misuse of the […]
CFPB 1071 small-business loan rule to force tech upgrades
Many banks, especially smaller ones, will have to rethink how they lend to small businesses and automate manual processes.
Joint Press Release: Federal Bank Regulatory Agencies Release 2022 Small Business, Small Farm, and Community Development Lending Data
JOINT PRESS RELEASE | DECEMBER 20, 2023 Board of Governors of the Federal Reserve SystemFederal Deposit Insurance CorporationOffice of the Comptroller of the Currency____________________________________________________________ Federal Bank Regulatory Agencies Release 2022 Small Business, Small Farm, and Community Development Lending Data The federal bank regulatory agencies, as members of the Federal Financial Institutions Examination Council (FFIEC), today […]
Revolut halts crypto purchases; Santander warns about scams
Here’s what’s happening around the world
Biden vetoes challenge to CFPB small-business data rule
The resolution to nullify the CFPB’s small-business data rule, which would require lenders to collect demographic information before making loans to small-businesses, passed in both chambers with some bipartisan support.