Marco Community Bank of Marco Island, Fla., has entered an agreement with the Federal Reserve, which cited problems with the bank's asset quality, credit administration, and risk management.
Under the agreement, announced Thursday, within 30 days the $166 million-asset bank must submit to regulators a plan to strengthen board oversight.
Within 15 days it must create a committee to oversee lending policies and procedures.
The Office of the Comptroller of the Currency issued a final rule saying that federal law trumps state mandates on interest in escrow accounts for national banks, wading into an ongoing court battle.
The Mortgage Bankers Association now predicts a Federal Reserve rate hike to arrive in 2027, as housing price growth also slows over the next two years.
An analysis of American Banker's 2026 Best Places to Work in Fintech finds that workers appreciate flexibility, as well as "meaningful" work.
The company says its mission-driven culture, family-supporting benefits and emphasis on flexibility are key factors.
The 33 companies that made it to this year's Best Places to Work in Fintech list are actively preserving remote work options and non-salary benefit packages.
Sens. Ed Markey and Ron Wyden argue that the Small Business Administration neglected to warn small firms of the risks of merchant cash advances and closed off a key "escape route" from the resulting debts.
