WASHINGTON - (09/08/05) -- Dozens, maybe even hundreds, ofsmall credit unions and banks shuttered in the aftermath ofHurricane Katrina are expected to remained closed forever,according to regulators and lawmakers. "What concerns me are thesmall institutions, the credit unions and banks, whose lenders andclientele are exclusively in the affected areas," said Rep. BarneyFrank, D.-Mass., during a briefing before the House FinancialServices Committee Wednesday. "The danger is, that most of thesmall institutions that do their business in local areas will allbe driven out of business." Officials at NCUA, which said about 120credit unions in the area were closed down, along with hundreds ofbranches, in the wake of the storm, acknowledged that many of thosecredit unions will never reopen.
-
While banks will likely increase near-term dividend plans, analysts and investors are more focused on the long-term outlook for capital requirements from regulators.
6h ago -
The Missouri bank surveyed consumers about what kind of financial management tools they use, then built its My Finance360 tool in response.
8h ago -
GodFather malware mimics and manipulates real financial apps on Android devices, exposing sensitive data without user suspicion.
9h ago -
As banks consider their strategies, other big names are also considering a role for digital assets.
10h ago -
The Financial Technology Association — which had been granted the right to defend the Consumer Financial Protection Bureau's open banking rule after the bureau declined to defend it — filed a motion Sunday to preserve the rule.
11h ago -
Kevin Fromer, who has headed the Financial Services Forum since 2017, announced his departure Monday. Fromer transformed the Financial Services Forum to advance the interests of the largest U.S. banks.
June 30