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After buying bank accused of redlining, Cadence gets top CRA score

American Banker

The FDIC gave Cadence Bank in Mississippi the highest possible rating on its most recent Community Reinvestment Act evaluation. Cadence was the product of a 2021 merger completed just months after the acquired bank settled a federal lending discrimination case.

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CFPB and DOJ settle fair lending claims involving allegations of redlining, discretionary underwriting and pricing, and overt discrimination

CFPB Monitor

The CFPB and DOJ recently announced a proposed consent order with BancorpSouth Bank to settle charges that the bank’s mortgage lending practices violated the Fair Housing Act and the Equal Credit Opportunity Act. While focused on mortgage lending, the settlement has significant fair lending implications for many types of non-mortgage credit.

Lending 60
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CFPB announces advisory committee members

CFPB Monitor

Nikitra Bailey, EVP, Center for Responsible Lending (Durham, NC). Bruce Ocko, Senior VP Director of Mortgage & Consumer Lending, Bangor Savings Bank (Bangor, ME). Lee Chair, Mississippi State University (Mississippi State, MS). Nadine Cohen, Managing Attorney, Greater Boston Legal Services (Boston, MA).

DC 78
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This week’s podcast: The CFPB’s approach to regulating payday lending: a discussion with Todd J. Zywicki, Professor of Law at George Mason University Antonin Scalia Law School, and Thomas Miller, Professor of Finance at Mississippi State University

CFPB Monitor

Zywicki and Miller have co-authored a soon-to-be published study, “The Effects on Consumers from Two State-Level Regulations of the Payday Loan Market,” in which they analyzed 15.6 million storefront payday loans made to 1.8

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Sizzle Or Fizzle: Facebook, Online Lending, Cash – And The Twilio Surge

PYMNTS

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 .

Lending 101
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Ponce Bank serves the underserved

Independent Banker

The businesspeople recognized that and said, ‘Listen, we’ve got to essentially pull the community’s resources together so that we can lend and help businesses grow.’”. Latino minority depository institution (MDI) east of the Mississippi. It wasn’t smooth sailing by any stretch of the imagination. Focused on community.

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Energy Lenders in Hot Seat After Warning from Big Gulf Coast Bank

American Banker

Word that Hancock Holding in Mississippi would more than double its loan-loss allowance has triggered broader questions about how the oil slump could spread beyond the energy portfolios of a whole class of banks.