CRA

State and federal regulators finally approved the Mississippi bank’s acquisitions of Ouachita Bancshares and Central Community after anti-laundering and CRA matters were resolved. BancorpSouth’s CEO says he may pursue more deals.

Comptroller of the Currency Joseph Otting said in a press conference Wednesday morning that there is a place in the banking world for some kind of fintech charter, though the exact parameters of such a charter are still unclear and have to be worked out.

The Silicon Valley payment processor is firing back at critics who say its bid for a bank charter would open the door to similar gambits by tech giants. Community activists, meanwhile, seem to be coming around to the idea of Square opening a bank.

Reform of the Community Reinvestment Act should seek to establish a minimum standard for the volume of CRA activities a bank must complete in its assessment area.

Clearinghouse CDFI will use funds from the $2 million investment to support affordable-housing and economic development projects in communities and Native American reservations in California, Nevada and Arizona.

Rather than pull up stakes and leave two low-income Mississippi towns at the mercy of payday lenders, Regions Bank donated the branches to a local credit union and kicked in another $500,000 for operating costs.

The company, which recently bought Sabadell United in Miami, is pledging to make billions of dollars in mortgages and small business loans in low- and moderate-income communities.

The Tupelo, Miss., company has recouped its “satisfactory” community reinvestment rating, removing a regulatory obstacle to two pending acquisitions.

The Ohio company's CRA rating took a hit after it inadvertently overcharged some customers.

The Fed's order noted that Sterling had clarified errors in its Community Reinvestment Act data before receiving a "satisfactory" rating from the OCC.