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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. The corporate card program has higher limits to accommodate individual client spending habits.

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Credit Card Charge-Offs Reach Highest Rate Since 2009

PYMNTS

Moody’s Investors Service reported Thursday (June 8) that credit card charge-offs — debts that are so delinquent that lending institutions have basically given up on collecting them — are at their highest rate since 2009 , possibly due to loosening lending standards. Synchrony Financial saw the highest charge-off rate at 5.4

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Zest AI raises $18 million in funding

BankInovation

Underwriting software provider Zest AI has raised $18 million in a funding round led by VyStar Credit Union and the First National Bank of Omaha, the firm announced last week.

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Who were ICBA’s Top Lenders of 2022?

Independent Banker

Here, we highlight some of last year’s most successful loan producers in the areas of agriculture, commercial and consumer/mortgage lending. The score combines the average of the bank’s percentile rank for lending concentration and for loan growth over the past year in each lending category. By Ed Avis. Methodology. AGRICULTURE.

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Why AI Risk Tech And Banks Could Be A Match Made In Heaven

PYMNTS

A solution, he told PYMNTS four years ago , that had nothing to do with financial services or lending at all — they were actually studying hiring and figuring out ways to track employability over time with data. Our simple idea was that better technology and better data science could improve access to credit,” Girouard said.

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Senator Sanders to introduce bill imposing 15% or lower consumer credit interest rate cap

CFPB Monitor

Senator Bernie Sanders recently announced that he will be introducing a bill, the “Loan Shark Prevention Act ,” that would amend the Truth in Lending Act (15 U.S.C. Supreme Court in Marquette National Bank v. First of Omaha Corp.,

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Ballard Spahr Submits Comment Letter to OCC in Support of Proposed True Lender Rule

CFPB Monitor

Ballard Spahr LLP has submitted a comment letter to the OCC in support of its proposed rule , “National Banks and Federal Savings Associations as Lenders” (the “Proposed Rule”). Three virtually identical Federal Interest Statutes govern interest that may be charged by Banks: Section 85 of the National Bank Act (“NBA”), 12 U.S.C. §

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