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Bad Actors Emerge in PPP Lending – More Expected as Forgiveness Guidance Emerges

Abrigo

As the initial rush to secure PPP loans dies down, financial institutions now face a new set of questions: How do financial institutions handle misused, unforgiven loans and fraudulent loans? Manage PPP loans through forgiveness. Kylee Wooten, content and media relations manager, contributed to this article. . SBA Lending.

Lending 195
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Axos Bank Expands Commercial Presence In NYC, LA

PYMNTS

15) that it will launch regional commercial banking operations in New York and Los Angeles in an effort to grow its corporate client base and connect existing business customers in the markets with its senior banking professionals. The bank announced Thursday (Aug. The bank is targeting the middle-market and niche clientele, it noted.

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Fintech Deals to Watch: Growing in the Digital World

Gonzobanker

Mark Cuban is tweeting about Jill Castilla’s fintech efforts with lending system startup Teslar. In a zeitgeist moment of what is happening in payments market disruption, the Los Angeles’ Staples Center was renamed Crypto.com Arena. Digital Security. Fintech investing has gained near sport status. OK, me neither.

Fintech 213
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Is Your Financial Institution Aware of These PPP Red Flags?

Abrigo

Fraudulent (or lack of) supporting documents Supporting documents are a critical part of both the application phase and forgiveness phase of PPP lending. Ruth’s Chris Steakhouse, Shake Shack, and the Los Angeles Lakers made headlines when they, along with other public companies, received PPP loans. Lending & Credit Risk.

Fraud 150
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Top AML concerns for credit unions: A BSA Officer’s perspective

Abrigo

While c red it unions may seem worlds apart from large global banks, the principles of financial integrity, trust, and security a re paramount to the success of banks and credit unions alike. As you read through the orders, address each regulatory finding and ask: What are we doing at my credit union to manage and mitigate this risk?

Training 221
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In UK, FinTech Alliance Launches

PYMNTS

The firm said it will be holding sign-up events for consumers in cities that include Los Angeles, New York and San Francisco. The main thing that will be removed is lending. so we won’t be lending customers money.”. Property Management (And Payments), APIs Included. banking license in partnership with Sutton Bank.

Fintech 108
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Top AML concerns for credit unions: A BSA Officer’s perspective

Abrigo

While c red it unions may seem worlds apart from large global banks, the principles of financial integrity, trust, and security a re paramount to the success of banks and credit unions alike. As you read through the orders, address each regulatory finding and ask: What are we doing at my credit union to manage and mitigate this risk?

Training 195