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Valley National Bank, heavy on CRE, is confident despite investor worry

American Banker

Investors have hammered the New Jersey-based lender following the turmoil at New York Community Bancorp. But Valley executives say there are key differences between the two real estate-focused banks, and they express confidence that the bank's underwriting will hold up again this cycle.

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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. Those services were not available in majority-Black and Hispanic neighborhoods in the Newark Lending Area.

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5 ways to shake up your lending strategy

Independent Banker

Particularly for small businesses, community banks should make sure they use up-to-date tools to assess risk, such as relying more heavily on the owner’s personal credit, says Joel Pruis, who leads the commercial and small business lending practice at Cornerstone Advisors in Scottsdale, Ariz. Learning about lending.

Lending 103
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First Bankcard, Provident Bank Team For Commercial Payments

PYMNTS

First Bankcard , a division of First National Bank of Omaha , has formed a strategic partnership with Provident Bank , First Bankcard announced Wednesday (Jan. Provident Bank, a New Jersey-based financial institution (FI), will issue a comprehensive suite of commercial payment solutions in conjunction with First Bankcard.

Omaha 131
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Today In B2B: Small PPP Loans Cause Controversy; Bank Profits Sink

PYMNTS

Judith Less, who runs a thrift shop in New Jersey, got $27,” the paper reported. Porter Capital Offers New Funding Tools To PPP Recipients. There were roughly 300 businesses out of the over 5 million companies receiving loans that got $99 or less, according to the newspaper.

Arkansas 152
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Why N.J. Bank Refuses to Take Successful SBA Program National

American Banker

Unity Bancorp is raking in money from holding and selling 7(a) loans, but don't expect the bank to extend its operations beyond New Jersey and New York. Management learned that lesson the hard way during the financial crisis.

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New condo safety laws: Three things community associations should consider

PopularBank

Community association decision-makers should consider these three questions as Florida’s new condo safety laws go into effect. What should property managers or associations do now regarding the new condo safety laws? Consider contingency lines of credit as a lending option.