John Reosti is a reporter covering community banks in particular and the financial services industry in general. He also focuses on the Small Business Administration, the National Credit Union Administration Board and issues connected to the CECL accounting standard.
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The FDIC's call for FASB to postpone the loan-loss accounting standard's effective date could put pressure on other agencies to follow suit.
March 20 -
FDIC Chairman Jelena McWilliams, citing concerns about the coronavirus outbreak, is the first regulatory chief to call for suspending the accounting standard for expected loan losses.
March 19 -
The FDIC chairman, citing concerns about the coronavirus outbreak, is the first regulatory chief to call for suspending the accounting standard for expected loan losses.
March 19 -
The proposal from Sens. Marco Rubio and Susan Collins would provide the Small Business Administration with $300 billion to help companies hurt by the coronavirus outbreak meet immediate financial obligations, including payroll.
March 19 -
Loans with favorable terms and gift certificates are among the solutions being promoted by companies like Kabbage and Honeycomb Credit.
March 18 -
Lenders are concerned that the coronavirus outbreak will increase vacancies and add to credit risk.
March 17 -
Lenders are rallying around a bill from Sen. Rubio that would give them access to another $50 billion under the 7(a) program. It could face obstacles in the House, where a bill favors direct lending by the Small Business Administration.
March 16 -
The agency will be tasked with providing $50 billion in loans to small businesses harmed by the pandemic. It is unclear whether the SBA will need help from banks and CUs.
March 13 -
The agency will be tasked with providing $50 billion in loans to small businesses harmed by the pandemic. It is unclear whether the SBA will need bankers' help.
March 12 -
The banking lobby asserts that the NCUA's field-of-membership rule goes beyond the agency's legal mandate.
March 11 -
Unity National Bank of Houston, which has reported losses three straight years, is receiving guidance and resources from Citigroup through a Treasury mentoring program.
March 6 -
Richard Herrington's buyout pitch to smaller banks is to offer them a way to survive and keep their local brands.
March 3 -
Hanover Bancorp will move forward with plans for an initial public offering after shareholders backed its slate of director nominees.
February 27 -
Though the agency plans to give more credit unions authority to issue subordinated debt, limited investor appetite and other factors could hamper activity.
February 27 -
Members of the House Small Business Committee expressed concerns to SBA Administrator Jovita Carranza that the rule could harm poultry farmers.
February 26 -
Though the agency plans to give more credit unions authority to issue subordinated debt, limited investor appetite and other factors could hamper activity.
February 25 -
The company revised its results to a net loss of $700,000 after deciding to record a $16 million loan-loss provision for the commercial loan.
February 24 -
Lawmakers have also criticized the agency's decision to create qualifying standards for farmers and other small businesses.
February 20 -
The credit union regulator's portfolio sale dashed the hopes of a group of New York taxi drivers looking for relief.
February 20 -
Hanover Bancorp is facing a proxy battle after its CFO and two other bankers bolted to a rival.
February 14
