Retail & Commercial

Mary Mack testified last week about the cultural problems she encountered after joining the bank's consumer unit in 2016. Recalling small group meetings she held with employees, she said: "People would stand up, and they were fearful."

The Illinois bank is acquiring about 1,800 loans to insurance agents. As part of the deal, a team of Allstate specialists will join the bank's insurance agency finance business.

The state joins Illinois and Massachusetts in subjecting nondepository companies to state-level Community Reinvestment Act requirements.

FV Bank will let users hold crypto and traditional currencies in the same account. It says it can do that because it’s licensed in the U.S. territory as a bank and a digital-asset custodian.

On Jun. 30, 2021. Dollars in thousands.

The relaxation of Community Reinvestment Act and fair-lending enforcement by the OCC after President Trump took office deprived minority and low-income applicants in Memphis who sought credit from the bank for far too long.

The Texas bank, which has spent six years reducing its exposure to fossil fuel companies, aims to bottom out at around 5% of its total loan portfolio.

Rising debt-to-income ratios were behind almost a third of refinance rejections among those 65 and older, according to an analysis from the Urban Institute.

Fifty-three percent of community bank executives who participated in a recent survey said they’d spurn a takeover offer by a credit union, even if it was the highest bid. The findings underscore the rivalry between the two sectors at a time of rising consolidation.

Steve Steinour, the Ohio bank’s CEO, said the slowdown in car manufacturing due to the global chip shortage will continue to stifle loan demand in the months ahead.