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Going the extra mile to help minority-owned businesses weather pandemic

American Banker

Uwharrie Capital in North Carolina and Valley National in New York used their community connections to seek out small companies in need of loans from the Paycheck Protection Program. They found plenty of them.

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Small Business Banking Targeted In Open Banking Initiatives

PYMNTS

In a press release , the company announced plans to offer community banks and credit unions (CUs) its banking technology, which can enable these FIs to more adequately compete against larger banks. small business lending platform Funding Circle is reportedly considering whether to wield open banking to enhance its own product offering.

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CFPB announces new appointments to advisory groups

CFPB Monitor

The CFPB has announced the appointment of new members to its Consumer Advisory Board, Community Bank Advisory Council, Credit Union Advisory Council, and Academic Research Council. Chi Chi Wu, Staff Attorney, National Consumer Law Center, Boston, MA. Community Bank Advisory Council Members.

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Four Reasons for the 2007-08 Financial Crisis

Jeff For Banks

There have been quite a number of research pieces offered as to the root causes (read a good one here by University of North Carolina). Community financial institutions make their debut here, as they purchased bonds, typically highly rated, backed by mortgages that also had insurance applied to them. What could go wrong?

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Bankers Need to Accept Inevitable on FASB Loan-Loss Plan

American Banker

That is the message from North Carolina's banking commissioner and others who think the odds of preventing the rule are so low, and the amount of preparation needed to comply so great, that bankers should get real.

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The 2019 GonzoBanker Awards

Gonzobanker

Mark Turner, Executive Chairman of the Board, WSFS Bank – We have to give the nod to an early 2019 retirement of Turner, who had one hell of a run in 12 years at the helm of a great community and wealth bank. It was always clear how much Jones loves his credit union, his team and his community. Credit Union Lifetime Achievement Awards.

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Industry trade groups urge HUD to make significant changes to its disparate impact rule; state attorneys general oppose changes

CFPB Monitor

Supreme Court ruling in Texas Department of Housing and Community Affairs v. Inclusive Communities Project, Inc. The trade groups’ views are set forth in comment letters submitted to HUD in response to its advance notice of proposed rulemaking seeking comment on the need for revisions to the Rule following Inclusive Communities.

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