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The Justice Department and the Consumer Financial Protection Bureau are suing a real estate developer over an alleged bait-and-switch land-sale scheme near Houston. The developer used TikTok and other social media sites to lure Hispanic immigrants into predatory loans, the government alleges.
December 20 -
Lincoln Savings Bank has tapped Sean Willett, chief administrative officer at Financial Institutions, as its next leader after a six-month search.
December 20 -
The head of small business at Truist Bank discusses how regional banks are operating in this market, in conversation with American Banker Editor-in-Chief Chana Schoenberger.
December 20 -
Many banks, especially smaller ones, will have to rethink how they lend to small businesses and automate manual processes.
December 20 -
Here's what's happening around the world
December 20 -
The resolution to nullify the CFPB's small-business data rule, which would require lenders to collect demographic information before making loans to small-businesses, passed in both chambers with some bipartisan support.
December 20 -
Meritrust Credit Union in Wichita is giving $400 to each of its 370 employees to start or grow a rainy day fund.
December 20 -
The Bank Term Funding Program, set up in response to this spring's run of bank failures, is poised to close down in March. With the Federal Reserve now forecasting rate cuts next year, the bar for renewing the facility's authorization could be a bit higher.
December 20 -
States need to think twice about allowing earned wage advance programs. They look increasingly like predatory lending.
December 20National Consumer Law Center -
The first credit unions enrolled in the Federal Reserve's FedNow instant payments platform say it will fundamentally change the way they serve consumers and businesses across multiple categories.
December 20