Commercial lending

Just two months ago, Comptroller Joseph Otting seemed to signal that the OCC might be open to letting national banks rent their charters to payday lenders. Now he is clarifying that it won’t happen.

An OCC initiative to get more banks to make short-term loans that rival those of payday lenders isn't enough of an enticement.

The London interbank offered rate will likely be replaced by a new reference rate that critics say is better suited for the derivatives market than it is for commercial lending.

While industry officials welcomed a bulletin from the Office of the Comptroller of the Currency encouraging banks to develop alternatives to payday loans, they are making no commitments to offer such products.

With President Trump signing the regulatory relief bill into law on Thursday, credit unions expect to see a host of benefits, including changes to MBL regs, HMDA exemptions, changes to the QM rule and more.

The Canadian banks' second-quarter profits were also boosted by double-digit income growth at their U.S. operations.

The agency's bulletin opens the door to banks' making more short-term loans to borrowers with lower credit scores — with few parameters beyond "sound underwriting."

A major study recently named the $2.5 billion-asset CU the No. 1 performing credit union in California.

For many borrowers, near-guaranteed approvals and faster turnaround times are more important than the lower rates offered by banks and credit unions.

MapleMark Bank, which was known as First National Bank of Edgewood when it was bought by an investment group last year, will use the funds to support commercial lending and private banking.