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First New Community Bank In Decades Headed To US Market

PYMNTS

is set to see its first new community bank in decades, as the Federal Deposit Insurance Corporation (FDIC) lent its approval for MOXY Bank to launch in Washington, D.C. With clearance to move forward with its plans, the community banking landscape will see its first new industry player in years. have emerged to do.

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Community Banks Aim To Amplify Competitive Edge With FinTechs

PYMNTS

Community banks approved 49 percent of SMB loan applications in November, according to the latest data from the Biz2Credit Small Business Lending Index. Here, again, lies another opportunity for community banks to fill the void. INTRUST Bank recently announced it is also taking part in the trend of collaborating with FinTechs.

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Cutting the red tape for community banks

Abrigo

The new data reporting plan is available for public comment now, and if passed, would likely take affect for Q4 or first quarter 2016 call reports. Many community banks see this as a welcomed move towards offering smaller institutions some relief from the regulatory pressures of their larger, national counterparts.

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A digital-first bank for south Florida

Independent Banker

Observing the gap in pandemic relief in south Florida due to a lack of local community banks, a trio of banking veterans teamed up to form a digital-first community bank—and were granted a charter in record time to support local businesses. from 2016 until its sale in 2018. By Katie Kuehner-Hebert. Name: Locality Bank.

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Fed Chairman Concerned Over Shrinking Bank Market

PYMNTS

The average merger review time at the Office of the Comptroller of the Currency (OCC) declined between 2016 and 2018, too, reports in The Wall Street Journal said. ” Other critics have raised the issue that the OCC is advising examiners to take community group concerns into consideration separately from their M&A approval processes.

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CARES Act includes provisions affecting financial institutions and their regulation: some key provisions

CFPB Monitor

Section 4008 of the CARES Act authorizes the Federal Deposit Insurance Corporation (FDIC) to establish a debt guarantee program to guarantee the debt of solvent insured depository institutions and depository institution holding companies. Section 4008 – Debt Guaranty Authority. Section 4010 – Temporary Hiring Flexibility.

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NCUSIF Deposit Insurance: How Your Money in Credit Union is Protected

MyBankTracker

Even if the bank fails and cannot return your money to you, the Federal Deposit Insurance Corporation (FDIC) offers up to $250,000 in insurance. Credit unions are a popular alternative to banks because of their community focus. However, they don’t receive insurance from the FDIC. NCUA vs. FDIC.

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