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Santander To Pay $25M To Resolve Auto Loan Allegations

PYMNTS

million to Delaware — to resolve predatory subprime auto loan allegations. “I Auto lending is big business for Santander — it is $38.5 Earlier this year, the Office of the Comptroller of the Currency downgraded Santander’s rating in community lending. states — $22 million to Massachusetts and $2.87

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JPMorgan Bucks The Trend, To Open 50 New Branches In Philadelphia

PYMNTS

CNBC, citing an interview JPMorgan Chase Chief Executive Jamie Dimon had with Jim Cramer on Squawk Alley, reported the company is gearing up to open 50 new branches in Philadelphia, Delaware and southern New Jersey during the course of the next five years. in an effort to strengthen its retail business. .”

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Radius Bank in Boston Launches National SBA Lending Platform

American Banker

Radius Bank in Boston has recruited a team to lead a national push into Small Business Administration lending. Among the new hires is Diane Gallion, a former executive at The Bancorp in Delaware, who will be national director of government-guaranteed lending at Radius.

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Community Bank History: Peoples National Bank, Hallstead, Pennsylvania

Jeff For Banks

Community banks tout themselves as better than national and regional banks because of how close they are to their communities. When the bank opened in 1905, Hallstead was already a thriving community. But the communities the Bank serves continue to be resilient.

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From Farce to Menace

Independent Banker

Last month the NCUA’s sweeping, 167-page proposal to hand federal credit unions virtually unlimited freedom to serve almost any person of any means anywhere rightly drew an avalanche of letters from infuriated community bankers. Certainly the NCUA’s obsessiveness in pushing against its regulatory limits has had almost no limits in years.

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CFPB holds field hearing on proposed rules for prepaid accounts

CFPB Monitor

Yesterday I attended the Consumer Financial Protection Bureau’s (CFPB) field hearing in Wilmington, Delaware, at which the CFPB unveiled and accepted public comment on its long-awaited proposed rule for prepaid accounts under the Electronic Fund Transfer Act (Regulation E) and the Truth In Lending Act (Regulation Z) (the Rule).

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Washington Watch

Independent Banker

Even though the industry identified several major regulatory burdens, including those posed by the Truth in Lending Act and the Home Mortgage Disclosure Act, few substantive regulations were repealed. Many community bankers concluded that the EGRPRA is little more than a “check the box” process for regulators. Starting fresh.