American Banker
MARCH 22, 2024
The FDIC Office of Inspector General attributed the downfall of Citizens Bank in November 2023 to lax lending practices and risk mismanagement by the Lange family, causing a $14.8 million loss to the regulator's Deposit Insurance Fund. The OIG saw no grounds for a more extensive review.
PYMNTS
SEPTEMBER 17, 2019
While short-term lending in general has a pretty rough reputation, the pawn loan is the most ill-regarded arena in an already unloved category of consumer lending. The loan amount a borrower can get from a pawnbroker is determined solely by the value of the item itself; as in most forms of short-term lending, there is no credit check.
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PYMNTS
JUNE 24, 2016
This week it was Minnesota, and then yesterday Walmart really got warmed up and announced the expansion of their new payments service in: Michigan, Virginia, the Carolinas, Indiana, Iowa, Kentucky, Nebraska, North Dakota, South Dakota, Tennessee, Louisiana, Missouri, Mississippi and Washington, D.C. Online lending . Costco Card.
PYMNTS
NOVEMBER 13, 2018
Among the names joining up are Citizens & Northern Bank (based in Pennsylvania), Inland Bank (Illinois) and Lincoln Savings Bank (Iowa). This time around, Sweetbridge is using blockchain in a lending context. The company is trialing token-based asset lending through the next two years and covering 10,000 state residents.
Independent Banker
MAY 26, 2016
It’s yet another fiasco of meddlesome overregulation that could have been avoided, says Becky Miller, vice president and compliance officer for the $90 million-asset Farmers Trust and Savings Bank in Williamsburg, Iowa. Whoever proposes any new regulations should first have to personally apply their proposals in a real-world bank setting.
Independent Banker
SEPTEMBER 26, 2014
That is why we are calling on regulators to make the most of the latest mandatory review of federal banking rules. The agencies are required to study their regulations for dead weight every 10 years under the Economic Growth and Regulatory Paperwork Reduction Act of 1996. Starting fresh. Community Bankers Chosen as CFPB Advisors.
Independent Banker
MAY 24, 2016
million farms and the community banks that lend to them each growing season, Scanlan points out. I assume that will continue,” adds Larry Winum, president and CEO of Glenwood State Bank, a $170 million-asset agricultural lender in Glenwood, Iowa. A total of 300 million acres are covered by crop insurance.
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