NEW ORLEANS - (01/02/06) First, there was the issue of whatwould happen when all those loan payments deferred due to HurricaneKatrina all came due on Dec. 1. Now the question is what happenswhen lenders get more than they bargained for in the form of earlypay-offs. Insurance checks have been streaming into Gulf Coastfinancial institutions, and many of those checks will be used topay off loans well before their terms are up. Financialinstitutions in the Gulf Coast states are reporting that in mostcases, they are opting to waive the prepayment penalties built intomost loans. But some consumers have been complaining to regulatorsand other government officials that some financial institutions areinsisting on collecting such penalties for earlypayoffs.
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The top five banks and thrifts have combined total assets of nearly $13 trillion.
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Lawmakers including one of the original sponsors of the Corporate Transparency Act have filed an amicus brief in the appeal against an Alabama court ruling that the law is unconstitutional, which would throw into question Treasury's newly-established beneficial ownership structure.
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The Connecticut bank —a regional traditionally regarded as a cautious lender — said nonperforming loans and leases rose 53% year-over-year. The uptick was in mostly the commercial-and-industrial loan space, although there was one nonperforming commercial real estate loan, executives said.
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The two regional banks are anticipating that borrower demand will increase in the back half of the year. High interest rates and economic uncertainty have been muting the appetite for borrowing.
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In a letter to Treasury Secretary Janet Yellen last week, the Massachusetts senator highlighted the growing use of cryptocurrencies by malicious organizations abroad and underscored the need for anti-money-laundering and counterterrorism provisions in future proposals.
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Brendon Falconer, finance chief of the Indiana company since 2019, faces felony child molestation charges. But CEO James Ryan says management is focused on the CapStar integration and organic growth.
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