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Why The ICBA Is Fighting Industrial Loan Charters For FinTechs

PYMNTS

That law prohibits bank holding companies from participating in commercial activities not directly or closely related to financial services. Industrial banks are not subject to BHA. All industrial banks are chartered in Utah – and there are only 17 such charters issued, 15 of which are currently active.

Industry 108
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The Niche Bank

Jeff For Banks

Me to a community banker: Why don't you offer more options than real estate secured lending to help fund early stage businesses? Banker: Because that's not community banking. I've been in this business over 20 years and still don't know the definition of community banking. I've got news for you.

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2021 GonzoBanker Awards

Gonzobanker

million gets the vaunted consumer lender a much-prized bank charter, low-cost deposits to juice current earnings, and a business lending capability to drive future growth. Goes to Larry Mazza and the crew at MVB Bank in West Virginia. Goes to Eric Sprink, Coastal Community Bank , Everett, Wash. 82% to over 2.3%

Fintech 142
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THE 16TH ANNUAL GONZOBANKER AWARDS

Gonzobanker

Be Careful What You Wish for Award – To all those Fintech providers that can now get an official bank charter to operate within the confines of simple regulatory requirements. Best Free Market Research a Retail Banker Will Ever Get. The 2016 Gonzo Marketing Medal – Goes to Elevations Credit Union for its “Egg Lending” campaign.

Utah 60
article thumbnail

THE 16TH ANNUAL GONZOBANKER AWARDS

Gonzobanker

Be Careful What You Wish for Award – To all those Fintech providers that can now get an official bank charter to operate within the confines of simple regulatory requirements. Best Free Market Research a Retail Banker Will Ever Get. The 2016 Gonzo Marketing Medal – Goes to Elevations Credit Union for its “Egg Lending” campaign.

Utah 60