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Two community banks that focus on underbanked and low-income populations, City First Bank of D.C. and Southern Bancorp in Arkadelphia, Ark., have joined an international group that promotes socially and environmentally responsible development.
June 19 -
A recap of the informed opinions (and the discussions they generated) on BankThink this week, including the need to hold bankers accountable for criminal deeds and whether the FDIC's proposed recordkeeping requirement is smart planning or pointless.
June 19
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BB&T's auto-finance division will stop dealers from marking up the price on sales contracts, and instead will offer a flat-fee compensation program.
June 19 -
U.S. consumers are increasingly using their credit cards rather than tapping home-equity credit lines to pay debts or finance a big purchase, according to Sanford C. Bernstein.
June 19 -
Many lenders may not have been ready for the CFPB's new mortgage disclosure rule if it took effect on Aug. 1 as planned. Now a slip-up by the agency itself has given lenders a two-month reprieve.
June 19 -
Silicon Valley firms like Apple and Lending Club are happy to partner with banks so long as they get to be the face of customer interactions. But banks may not easily give up that ground.
June 19 -
The Consumer Services division of Washington state's Department of Financial Institutions has accused Quicken Loans of sending false claims in direct mail advertising to military members.
June 19 -
Pressure from community groups forced Valley National Bancorp to strengthen its commitment to lend in low-and moderate-income neighborhoods in order to win approval for a Florida acquisition. Other banks, too, are now placing CRA efforts front-and-center as they aim to sell deals to the public and their regulators.
June 19 -
The NCUA is proposing changes that would allow credit unions to approve applications more expeditiously, eliminating an edge long held by banks. The agency is also ready to let members make more commercial development loans.
June 19 -
Austin Capital Bank, a $71.4 million-asset institution based in Texas, will originate loans for a new online consumer lending platform called Self Lender, the two companies announced.
June 19
