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DOJ announces settlement of redlining lawsuit

CFPB Monitor

The Justice Department announced that it has entered into an agreement with Lakeland Bank to settle the DOJ’s claims that Lakeland engaged in unlawful redlining in the Newark, New Jersey metropolitan area. According to the DOJ , the settlement represents the third-largest redlining settlement in the DOJ’s history.

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New Jersey’s $5B American Dream Mall To Reopen In October

PYMNTS

The wait is over for shoppers who have missed the $5 billion American Dream Mall in East Rutherford, New Jersey. The news follows the reopening of the shopping center’s indoor ski park Tuesday (Sept. Last week, New Jersey Gov. On Thursday (Sept. 1, NorthJersey.com reported.

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New condo safety laws: Three things community associations should consider

PopularBank

Recently, Florida passed SB 4-D, a new safety regulation for condominium and cooperative association buildings. The new condo safety laws center around inspection requirements, mandatory reserves, and more transparency for unit owners and prospective unit owners on information regarding the condition of the buildings.

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Widening Borrower Protection’s Scope To SMBs

PYMNTS

As online lending platforms proliferate among the SMB borrowing community, however, experts warn that a lack of regulation means these companies rarely publicly reveal interest rates and fees. On top of that, MacKrell said the government is not sufficiently enlightening the small business community about the risks of online lenders.

Lending 136
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Will "Plain Vanilla" Kill Community Banking?

Jeff For Banks

I was at a strategic planning retreat a few weeks back where a colleague lauded the concept of bankers getting back to plain vanilla community banking. But if you read or watch interviews of CEOs of community FIs from 2008 forward, you will be bombarded with the message that they didn''t engage in the things that led to the collapse.

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ATMIA Weighs In On Cashless Retail Ban Debate

PYMNTS

As had been reported late last month, in New York City, the city council held a hearing centered on a bill that would ban stores and restaurants from being able to refuse to accept cash. A similar ban has already passed in New Jersey and similar legislation has been backed by legislators in Philadelphia and signed into law this past week.

Retail 129
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Industrial evolution: Black-owned D.C. bank set to expand in New York

American Banker

Industrial Bank CEO Doyle Mitchell has spent countless hours in New York since his bank bought the failed City National in November, meeting with existing customers and plotting his growth plans.