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FDIC provides conditional approval for Ohio de novo bank

American Banker

Organizers of First Bank of Central Ohio will need to raise $20 million before it opens.

Ohio 31
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Organizers propose new bank in Ohio

American Banker

First Bank of Central Ohio would be based near Columbus, where another group opened a bank last year.

Ohio 47
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FDIC approves application for proposed Ohio de novo

American Banker

Organizers of Riverside Bank of Dublin will need to raise $18 million before opening.

Ohio 31
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This Accel-Backed Startup Raised $100M To Help Millennials Afford To Buy Homes

CB Insights

Ohio-based Lower offers home refinancing, mortgage loan, and home insurance services. The company recently launched a mobile app, HomeFund, an FDIC-insured deposit fund with a 0.75% annual percentage yield. HOW’S THE COMPANY PERFORMING? Lower reported $300M in revenue FY’20 and has funded $3.5B in loans to date.

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Bitcoin Daily: Anchorage Crypto Startup Sets Up Shop In Sioux Falls; Crypto Scam Steals $900K From Pension Fund

PYMNTS

And surprisingly, South Dakota is one of the largest holders of institutional assets in the country, more than $3 trillion, according to the FDIC — three times the size of New York, followed only by Ohio.”. In other news, a retired couple in Australia have lost $900,000 due to a cryptocurrency scam.

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California Dept. of Business Oversight launches “true lender” investigation of auto title lender’s partnership with Utah bank

CFPB Monitor

Because CCBank is a state-chartered FDIC-insured bank located in Utah, Section 27(a) of the Federal Deposit Insurance Act authorizes CCBank to charge interest on its loans, including loans to California residents, at a rate allowed by Utah law regardless of any California law imposing a lower interest rate limit.

Utah 78
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Stress testing revisited to avert risk and improve risk ratings

Abrigo

First City Bank, a $60 million-asset institution in Columbus, Ohio, has been performing bottom-up stress testing on their portfolio for over six years. Like First City Bank, financial institutions can use the results of this type of stress testing to understand potential risk migration and to develop better risk rating strategies.

Columbus 150