Virginia National CEO Glen Rust
A former employee wants the company to look at a merger of equals or selling its wealth management operations to increase shareholder value. Management, meanwhile, wants to grow in a way that diversifies income and reduces risk.

Breaking News

Image: Fotolia
Somali-Americans who send cash home to their relatives can breathe a bit easier following the decision by Merchants Bank of California.

Community banks in the region are getting better, but the hunt for short-term income could bite them down the road, the Office of the Comptroller of the Currency said in its quarterly report.

Community banks and credit unions have filed class actions against Home Depot and Target, using untested legal arguments to claim the retailers should pay banks’ expenses tied to recent data breaches. There is very little legal precedent here, and hundreds of millions of dollars could hinge on the court rulings in these cases.

Bob Beauprez, a former community banker and Republican congressman, is challenging incumbent John Hickenlooper in Colorado's gubernatorial race. A pro-Hickenlooper group has released ads attacking Beauprez's banking ties, including the sale of his bank to First Community Bank in Taos, N.M. That bank failed in 2011.

The Consumer Financial Protection Bureau's action against Flagstar Bank on Monday marked a series of firsts for the agency, including the first time it enforced its new mortgage servicing rules and the first time it banned a servicer from servicing new loans until fixes are made.

More community banks are looking to outsource their mortgage operations to reduce the regulatory burden, but structuring such deals – and determining proper compensation – can be tricky. Here's how two Chicago-area lenders solved the problem.
Comments (1)

Image: Bloomberg News
Banks, credit unions, payday lenders and installment lenders are likely to feel the impact of restrictions on loans to members of the military that the Defense Department has proposed.
Comments (1)

Tory Nixon played defense for San Francisco's famed NFL team in some of its glory years, but now he's on offense, seeking to build out commercial lending and retail operations in Northern California for California Bank & Trust.

How banks are using online and classroom courses to teach young commercial lenders to stay on top of regulatory and market changes.

Credit cards and installment loans that are sold to active-duty military members would be subject to a series of consumer protections under the new Defense Department proposal. High-cost lenders easily evaded the earlier rules, which applied more narrowly.

See all Community Banking News

Fiserv is a leading global provider of information management and electronic commerce systems for the financial services industry.
Learn More
Informa Research Services is the premier provider of competitive intelligence, mystery shopping, and compliance testing services to the financial industry.
Learn More
CSC is a leader in private-label, third-party loan servicing with 30+ years of proven experience in delivering effective, cost-effective solutions.
Learn More
Already a subscriber? Log in here
Please note you must now log in with your email address and password.