Banking

Most executives are comfortable crossing over $1 billion of assets, where more frequent exams are the biggest supervisory change. But few are eager to take on the compliance burdens that accompany the jump above $10 billion.

Smaller lenders have proved more aggressive than their larger rivals in making new loans during the farm country rebound. Market watchers warn that the price boom may not last.

The National Credit Union Administration approved the creation of Maun Federal Credit Union, which will serve members of the state's Islamic community.

The Paycheck Protection Program has about $8 billion remaining, with those funds earmarked for community development financial institutions, minority depository institutions and other mission-driven lenders.

The Arkansas company will gain branches around Nashville as part of the acquisition.

The company agreed to pay $104 million for a one-branch bank with $391 million of assets.

The bank told its U.S. employees to be ready to return by June 14, June 21 in the U.K.; the SBA is no longer taking applications for the small-business lending program.

More than a year into the pandemic, with the U.S. economy improving and consumers having paid down debt, bankers are finally loosening the reins in auto lending and credit cards.

The "as a service" model cuts costs and streamlines deployment of new card programs and technology, says Zeta's Bhavin Turakhia.

Lenders including Howard Bancorp and First Carolina Bank are shunning acquisitions as a route into new markets, to avoid overpaying for targets and inheriting potential loan problems.

Challenger banks like Spiral and Greenwood Financial make charitable giving easy through their apps to build stronger relationships with socially conscious customers.

The company, once known as Southern National Bancorp of Virginia, plans to launch the as-yet-unnamed platform by the end of this year.

Cordray, named this week to lead the Education Department's office of federal student aid, cracked down on banks, student loan servicers and for-profit colleges when he was director of the Consumer Financial Protection Bureau.

The National Association of State Credit Union Supervisors has started a national search to replace President and CEO Lucy Ito.

The specialty lender provides leases for preowned Ferraris, Porsches, McLarens, Lamborghinis and other luxury cars.

The purchases of Truck Insurance Specialists and Hometown Insurance are expected to help the company expand its dealings in transportation and agriculture.

The Fed chair says nonbank lenders should be subject to the law, which requires congressional action; the former head of the CFPB has been named head of the federal student aid program.

The online lender was not a party to the lawsuit involving the Federal Trade Commission and a payday lender, but it could emerge as one of the big winners from the Supreme Court’s decision.

Two new government reports suggest that U.S. consumers’ fortunes have improved since the start of the pandemic, with bankruptcies falling sharply and fewer people falling behind on bills. But it’s not clear how long the positive trends will sustain themselves as government relief efforts wind down and evictions and foreclosures resume.

On Dec. 31, 2020. Dollars in thousands.