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MOXY Preps Launch Of New Community Bank With NYMBUS

PYMNTS

MOXY bank , preparing to be one of the first new community banks to launch in the U.S. Following approval by the Federal Deposit Insurance Corporation (FDIC) and Washington, D.C.’s In addition to MOXY, two other community banks, Vision Bank and Trustar Bank, are looking to launch in the area.

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At last, a Washington idea community banks and credit unions can use.

Long Lasting Ideas

Often in this space, we’ve written about how Washington has made community banks its personal punching bag. Sarbanes-Oxley, Dodd-Frank, the FDIC and other financial regulators – as well as Congress and the White House — have not been friendly to community banks, all while bailing out Wall Street big boys.

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Cutting the red tape for community banks

Abrigo

Many community banks see this as a welcomed move towards offering smaller institutions some relief from the regulatory pressures of their larger, national counterparts. Laura Stewart, CEO of Sound Community Bank in Washington said of preparing the call report: "It almost feels like a full-time job."

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McWilliams Outlines FDIC Steps to Strengthen Minority Banks

ABA Community Banking

The FDIC is updating examiner instructions to help strengthen minority depository institutions, FDIC Chairman Jelena McWilliams said today in Washington. The post McWilliams Outlines FDIC Steps to Strengthen Minority Banks appeared first on ABA Banking Journal.

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Savi Financial wins FDIC approval for de novo bank charter

American Banker

The plan calls for the formation of Orca Bank in Bellingham, Washington. It would become a subsidiary of Savi, whose CEO would assume the same role at the bank.

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Silicon Valley Bank Failure – Lessons in Interest Rate Risk Management

South State Correspondent

While we will cover the general lessons HERE , in this article, we wanted to focus on the root cause – how and why interest rate risk caused the second-largest bank failure in US history (Washington Mutual was the largest in 2008). Notably, most community banks’ duration risk is in the loan portfolio.

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Fed Chairman Concerned Over Shrinking Bank Market

PYMNTS

.” Other critics have raised the issue that the OCC is advising examiners to take community group concerns into consideration separately from their M&A approval processes. ” Now, Powell is also raising concerns about how bank industry consolidation could negatively impact the small business community.

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