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SBA Promotes Credit Union SMB Lending

PYMNTS

When it comes to small business (SMB) lending, the top two contenders for business owners are banks and alternative financiers or online marketplaces. The SBA and NCUA collaboration is a three-year agreement that aims to build upon that momentum, and heighten CUs’ share of the SMB lending market. Credit Unions In Growth Mode.

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AML human trafficking red flags and other ways banks can support victims

Abrigo

The United Nations estimates there are currently 40 million people enslaved around the world, and that one-quarter of them are children. Two recent guests of the Abrigo podcast Ahead of the Curve shared ways that their organizations, Made Free and the Texas Advocacy Project (TAP), fight against human trafficking.

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The ICBA 22/23 executive committee is all in

Independent Banker

When the 2022/23 ICBA board of directors was introduced at ICBA LIVE in San Antonio, Texas, there was a palpable sense of excitement in the air. Treasurer Sarah Getzlaff, CEO, Security First Bank of North Dakota, New Salem, N.D. Bank Education chair Kathy Underwood, President and CEO, Ledyard National Bank, Hanover, N.H.

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Credit Unions’ Small Business Opportunity

PYMNTS

“This could lower costs, increase security, make the cannabis black market even less appealing, and create new customers for community banks, credit unions and [minority-depository institutions] (MDIs),” it added. One of the largest opportunities is in small business lending. But it can also be in the broader small business community.

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(Literal) Land Grab for Hot New Real Estate Startups Shows FOMO

PYMNTS

In Texas, there is Homeward Realty , with $4 million in equity raised and $21 million in debt borrowed, per its latest announcement. This reportedly lets them make offers on new properties, securing a new place to live even before the old property is listed. News came this week that a cramped space is getting a bit more crowded.

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FinCEN announces $8 Million BSA Enforcement Action: The Resurrection of AML Penalties

Abrigo

Whether that is the case or not, the reprieve is now over. On December 16, 2021, FinCEN announced an $8 million civil money penalty against CommunityBank of Texas (CBOT) for willful Bank Secrecy Act (BSA) violations and failing to maintain an effective anti-money laundering (AML) program. CommunityBank of Texas' citations.

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Happy Returns

Independent Banker

Greg Steverson (left) successfully manages a $100 million institutional investment portfolio for Ledyard National Bank in Norwich, Vt. Mikella Newsom (middle) successfully manages a $325 million institutional investment portfolio for City Bank in Lubbock, Texas. Greg Steverson, Ledyard National Bank.