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NY DFS announces multistate investigation of payroll advance industry

CFPB Monitor

The DFS states that the investigation will focus on “whether companies are in violation of state banking laws, including usury limits, licensing laws and other applicable laws regulating payday lending and consumer protection laws.” Illinois Department of Financial Professional Regulation. Oklahoma Department of Consumer Credit.

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CFPB announces plans to supervise more nonbanks; Ballard Spahr to hold May 11 webinar on Director Chopra’s first six months in office

CFPB Monitor

He stated that “[t]his authority gives us critical agility to move as quickly as the market, allowing us to conduct examinations of financial companies posing risks to consumers and stop harm before it spreads.” Regardless of its size, a service provider to another entity subject to CFPB supervision.

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7 ways community banks can boost profitability

Independent Banker

A profitability strategy has a lot to factor in given today’s uncertain market. Reiling adds that bank leadership needs to be bold enough to try things out and possibly fail, which is why Sunrise Banks implemented the 90-day check-in. a rural market with about 1,300 residents. “We Photo by Paper Boat Creative/Getty. Quick stat.

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The 2022 GonzoBanker Awards

Gonzobanker

As if that wasn’t enough, regulators took a sledgehammer to debit fee income with Reg II changes that will begin reducing card-not-present interchange fees starting in July 2023. Hats off to Thomas Shara at Lakeland and Tony Labozzetta of Provident for architecting the new $25 billion super-community bank in New Jersey.

Community 216
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The 2019 GonzoBanker Awards

Gonzobanker

The company’s market capitalization, which after declining to less than $600 million in the 2009 recession, has now grown to almost $3 billion. This was a terrific combination of two education-focused cooperatives across both Southern and Northern California markets. picks up Bancorp of New Jersey, Inc.

Idaho 148
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The 2018 GonzoBanker Awards

Gonzobanker

PNC made a Gonzo move with a national digital expansion in 2018 with the unique idea of building a small number of branches in target metro markets like Kansas City and Dallas. Goes to the always-sharp Mitch Feiger and the team at MB Financial for the bank’s sale to Fifth Third at a 24% premium to market price in May.

Fintech 105
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Silicon Valley’s Peter Thiel Named To Trump Transition Team

PYMNTS

Trump confirmed the appointment on his website, saying: “Together, this outstanding group of advisors, led by Vice President-elect Mike Pence, will build on the initial work done under the leadership of New Jersey Gov. Other appointments include Dr. Ben Carson, New Jersey Governor Chris Christie, Former Speaker of the U.S.