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Amendments to Ohio’s Administrative Rules Relating to Residential Mortgage Lending

CFPB Monitor

The Ohio Department of Commerce, Division of Financial Institutions is amending the rules that implement the state’s Residential Mortgage Lending Act. The Division is seeking preliminary feedback on the administrative rules, which are codified in the Ohio Administrative Code Chapter 1301:8-7, as they undergo a five-year rule review.

Lending 148
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Pew Charitable Trusts to host event on Ohio payday lending law

CFPB Monitor

focusing on Ohio’s Fairness in Lending Act. At the event, Ohio legislators from both sides of the aisle, business leaders, advocates, and researchers will discuss the Act. This afternoon, Pew Charitable Trusts will host an event in Washington, D.C.

Ohio 68
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Digital Bank Monzo Jumps Into Lending In The UK

PYMNTS

He added that jumping into more traditional lending “can get us a good way to profitability, if not even all the way.”. The eBank joins smaller rival Starling Bank on the lending front, becoming the second online bank in the U.K. The company is hopeful that its consumer lending division will lead to profits, according to the report.

Lending 161
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DOJ announces $9 million agreement to resolve redlining allegations against Park National Bank

CFPB Monitor

Park National Bank (“Park National”), based in Ohio, has agreed to pay $9 million to settle allegations brought by the U.S. Department of Justice (DOJ) that it engaged in unlawful redlining practices in the Columbus metropolitan area by not providing mortgage lending services to majority-Black and Hispanic communities from 2015 to 2021. .

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CRE risk management: Navigating hazards and opportunities

Abrigo

Critical capital Should CRE lending be off the table? Recent headlines may lead bankers to believe that shunning commercial real estate lending is the safest path to limit or avoid credit risk, given stresses on CRE and regulatory concerns. But that might not be the best move for your financial institution or your community.

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Credit union membership, lending up in Q2

Abrigo

Last week the NCUA reported that the total number of credit union members had surpassed the 101 million mark, and overall lending was up as of the close of Q2. Total lending at federally-insured credit unions reached $745.2 Auto lending has been an area of growth for credit unions over the last several quarters. billion, up 3.9

Lending 150
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Momentum continues for Huntington, but slower pace ahead

American Banker

The Ohio-based regional bank continued to drive loan and deposit growth in the second quarter. But lending activity is expected to ease while funding costs remain high, tempering net interest income expectations for the full year.

Ohio 69