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The recent stimulus law’s relief for renters and extension of the federal eviction ban were meant to ward off a housing crisis. But owners of 1- to 4-unit dwellings still face mounting mortgage and property tax debts, and delinquencies could start rising soon — followed by foreclosures.
January 4 -
Brian Argrett, whose City First Bank is being sold to Los Angeles-based Broadway Financial, would take the helm of the combined company at a time of increased national interest in reinvigorating minority-owned financial institutions.
January 4 -
From dealing with a flood of deposits to working with examiners virtually, credit unions were forced to quickly adapt to a new normal after the pandemic hit. Here's a look at some of the biggest changes and challenges they faced.
December 31 -
Bank regulators traditionally steer clear of more divisive debates in a polarized Washington. But some observers worry acting Comptroller Brian Brooks has gone too far by wading into issues such as public health orders and banks' decisions to curtail services to the gun and fossil fuel industries.
December 30 -
Triad Business Bank opened in North Carolina shortly before the launch of the Paycheck Protection Program, which brought in many clients. CEO Ramsey Hamadi, one of our community bankers to watch in 2021, will have to work hard to retain them after their loans are forgiven.
December 30 -
The new legislation includes a provision sparing lenders from having to pay such fees on Paycheck Protection Program loans, except in cases where they agree in advance with borrower representatives to do so.
December 29 -
Gilles Gade, one our community bankers to watch in 2021, led an effort that made Cross River Bank one of the biggest Paycheck Protection Program participants. He is ready for his team to pick up where it left off when the new stimulus package kicks in.
December 28 -
The measure, just the second of its kind the nation, mandates that fintechs, factoring firms and other nonbank small-business lenders clearly explain the terms and conditions to borrowers.
December 24 -
The legislation would let banks postpone the start date of the Current Expected Credit Losses accounting standard and delay categorizing pandemic-related loan modifications as troubled debt restructurings.
December 23 -
The legislation allows the Small Business Administration to waive fees and raise the guarantee for 7(a) and 504 loans, which could encourage more small businesses to apply for loans as the economy recovers.
December 22