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Key looks to offload risk in deal with Blackstone

American Banker

The Cleveland-based regional bank is shedding credit risk in a partnership with the private equity giant Blackstone. It's the latest tie-up between asset managers and regional banks that are looking to free up balance-sheet capacity.

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Key is downbeat on U.S. economy, upbeat on its own outlook

American Banker

The Cleveland-based bank is projecting steady growth in net interest income even as credit losses remain manageable. But Chairman and CEO Chris Gorman also said that he thinks a recession is likely.

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First Financial Bank President to Join Federal Reserve Bank of Cleveland Board

Banking Exchange

Archie Brown has been president and CEO of First Financial Bank since 2018 Community Banking Feature3 Feature Human Resources Management.

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KeyBank ups tech spend by $12M

BankInovation

KeyBank remained focused on expense management and improving its technology to stay competitive in the third quarter. The Cleveland-based bank’s noninterest expense increased to $1.1 Expense management remains a […] billion in the quarter, up by 0.4%

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KeyBank Takes Equity Stake in Payment Cycle Firm BillTrust

Bank Innovation

Cleveland-based KeyBank announced a partnership with cloud-based payment cycle management firm BillTrust, with KeyBank taking an equity stake in the firm, the companies said yesterday in a statement. Terms of KeyBank’s equity investment were not disclosed.

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US DOJ Charges 14 With $28M In PPP Fraud

PYMNTS

Levy, 50, of Bedford, Ohio; and Abdul-Azeem Levy, 22, of Cleveland, Ohio. 46, of Cleveland, Ohio; and Bern Benoit, 44, of Burbank, California. In Arkansas, a project manager employed by a major retailer has pleaded guilty to bank fraud charges for filing fraudulent bank loan applications seeking more than $8 million in PPP loans.

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Rocket Trims IPO By 39 Pct From $3.3B To $2B After Investors Reject Valuation

PYMNTS

Gilbert, owner of the Cleveland Cavaliers and founder of Quicken Loans will retain 79 percent of the voting power of the company’s common stock through controlling entities, the SEC filing shows. If approved, Rocket would be listed on the New York Stock Exchange, under the ticker “RKT.”. which is owned by Gilbert.

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