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First Citizens unveils revised SVB community plan worth $6.5 billion

American Banker

The agreement includes funds for small-business lending and mortgages for low- and moderate-income borrowers in California and Massachusetts. It puts an end to questions about the fate of an $11.2 billion plan that Silicon Valley Bank inked before it failed in March.

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Podcast: Inside a Community Bank’s ESG Strategy

ABA Community Banking

On the latest episode the ABA Banking Journal Podcast, Berkshire Bank President and CEO Nitin Mhatre discusss Berkshire Bank's "BEST Community Comeback," a new $5 billion ESG-focused initiative at the Massachusetts-based midsize community bank.

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COVID-19 Scams Target The Business Community

PYMNTS

500,000 or more in fines may be issued to a Massachusetts woman who pleaded guilty to taking part in a BEC scam, according to a press release by the U.S. For example, in one case, the brothers allegedly changed the PO number of units from less than 100 to 10,000, allowing them to over-bill for the fake order. Department of Justice.

Community 219
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Massachusetts federal court stays effective date and enjoins enforcement of HUD final rule revising FHA disparate impact standards; 2 other lawsuits filed challenging rule

CFPB Monitor

On October 25, a Massachusetts federal district court entered a preliminary injunction staying and postponing the effective date of the final rule issued by HUD last month (“2020 Rule”) revising its 2013 Fair Housing Act disparate impact standards (“2013 Rule”). In Inclusive Communities , the U. emphasis included).

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Provident in Massachusetts buys warehouse lending business

American Banker

The company acquired ResX Warehouse Lending from People's United Financial.

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In the news: Are community banks and credit unions overregulated?

Abrigo

A popular opinion, brought to the forefront last week by a Harvard University report , is that these regulations are imposing a significant burden on small financial institutions such as community banks and credit unions. She also added that community banks, specifically, have seen more than 11 percent growth.

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Commercial Real Estate or Business Lending: Which Is Better?

Jeff For Banks

Me: Commercial Real Estate loans are the most profitable product in a community bank's arsenal and have been through various interest rate environments. This was the conversation I had with a senior lender of a client at the Massachusetts Bankers' Association annual convention. But we have work to do.

Lending 78