South State Correspondent
MARCH 15, 2023
While we wrote about the root cause of the failure of Silicon Valley Bank (SVB) HERE , the lessons of the current banking crisis go beyond interest rate risk management. The larger issue here is that banks need to do a better job at collateral management in general. It turns out that confidence is more valuable than capital.
PYMNTS
NOVEMBER 20, 2020
Consumers were already shifting an increasing number of their account management activities to online sites and mobile apps. Starting in January, the bank will close 40 of its branch banking locations in the stores, more than half of which will be in Massachusetts.
CFPB Monitor
OCTOBER 10, 2019
Because Celtic retains no ownership or monetary interest in the loans, it bears no economic risk of loss due to a borrower’s non-payment (In June 2015, Kabbage’s “Program Management Agreement” with Celtic was amended to eliminate the 5% participation interest retained by Celtic.).
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