Ohio Bill Urges Govt. To Adopt Blockchain

PYMNTS

Blockchain got a boost last week after the Ohio House Of Representatives introduced a bill that would let state government agencies use blockchain technology. According to Cleavland.com , the bill sponsored by Ohio Representative Rick Caragna is part of the state’s efforts to build a legal framework for the technology that underpins cryptocurrencies such as bitcoin. Ohio has been pushing to incorporate blockchain into government for some time.

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Ohio Treasurer Suspends Bitcoin Business Tax Payment Program

PYMNTS

The state of Ohio has decided to end its support for bitcoin tax payments, state Treasurer Robert Sprague announced this week. It is vital that Ohio explores innovative, new technologies and processes that continue to drive Ohio into the future,” he said. However, we must make sure any new processes that are implemented, such as OhioCrypto.com, are established in accordance with Ohio law.”.

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Overstock To Pay Some Ohio Business Taxes With Bitcoin

PYMNTS

3) that it will pay a portion of its state business taxes in Ohio in bitcoin, becoming the first major U.S. In a press release , Overstock said it plans to pay its commercial activity taxes (CAT) in Ohio this coming February using the state’s recently launched OhioCrypto.com platform, which lets taxpayers pay state business taxes with bitcoin. Ohio is the first U.S. Cryptocurrency bitcoin cryptocurrency News ohio taxes What's Hot

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Park National to close 21 branches in Ohio and North Carolina

American Banker

The Ohio company said the decision reflects branch overlap and lower customer usage of the locations being shuttered. North Carolina Expense management Branch network Community banking Ohio

Ohio Lottery Makes A New Bet on Mobile

PYMNTS

But playing and delivery methods keep changing, with Ohio of all places — no offense to the Buckeye State, home to multiple presidents and the Wright Brothers’ aerodynamic innovations — accounting for some of the latest developments. Nor do these mobile-enabled lottery cards represent Ohio’s first attempt to keep its edge when it comes to state lotteries. ” Worries about addiction also have come up with the launch of the mobile-enabled lottery cards in Ohio.

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Fifth Third Bank has applied for a national bank charter

Bank Innovation

Cincinnati-based Fifth Third Bank has applied for a national bank charter as it expands its suite of products and services. On Thursday, the bank said it had filed an application with the Office of the Comptroller of the Currency to convert from an Ohio state-chartered bank to a national bank. A national charter will ensure […].

Hillbilly Elegy Author J.D. Vance Heads To Ohio In Search Of Investment Opportunities

PYMNTS

According to reports, Vance is heading home to Ohio on the hunt for venture deals for Steve Case’s investment vehicle Revolution LLC. Ohio, by comparison, attracted $303 million, and Kentucky $22 million. “A At Revolution, he said he isn’t focused on specific industry sectors or geographies other than the “47 states” that receive 20 percent of the nation’s venture commitments. Before writing the year’s surprise nonfiction hit Hillbilly Elegy , J.D.

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Lower Fees, Rising Expenses Hamper Profit at Park National in Ohio

American Banker

Park National in Newark, Ohio, reporter lower quarterly profit that reflected declines in service charges and higher expenses. breaking_news earnings-community-banks performance oh community-banking

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LCNB National Bank's Kasasa Cash Is A Rate Leader

BankDeals

LCNB National Bank's (Ohio) Kasasa Cash Checking currently earns 3.00% APY on qualifying balances up to $25k. The Kasasa Saver earns 1.00% APY up to $50k

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Blockchain’s Inroads Through National Frameworks And Trade Finance

PYMNTS

Blockchain is increasingly being separated from cryptocurrency, with an eye toward disparate use cases — some done at the national level. Votem, the news outlet reported, had also been the first in the state of Ohio to attempt an initial coin offering (ICO). To that end, reports came this week that Germany has put a consultation and commentary period in place that will focus on blockchain, with a goal of having a strategy outlined by the summer, Reuters said.

Park National gets $20 million after resolving issue from 2007 acquisition

American Banker

The Ohio company will benefit after settling unpaid judgments tied to nonperforming loans at a bank it bought before the last financial crisis. Litigation M&A Credit quality

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Grocery Tracker: Instacart’s National Push

PYMNTS

markets and is slated to roll out to four more this week in Detroit, Columbus, Ohio, Las Vegas and the Rio Grande Valley region of Texas. And with 80 percent national coverage, these current stats wouldn’t come as much of a loss. Which grocery stocks look most likely to see May flowers?

CFPB August 2016 complaint report highlights bank account or service complaints, complaints from Ohio consumers

CFPB Monitor

The CFPB has issued its August 2016 complaint report which highlights complaints about bank accounts or services and complaints from consumers in Ohio and the Columbus metro area. ” General findings include the following: As of August 1, 2016, the CFPB handled approximately 954,400 complaints nationally, including approximately 24,000 complaints in July 2016. Barbara S. Mishkin.

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First Financial in Ohio Converts to State Charter

American Banker

First Financial Bancorp in Cincinnati has converted its banking unit from a national charter to a state charter. breaking_news dealmaking-strategy strategic-alternatives oh community-banking

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First Financial in Ohio Reorganizes Several Leadership Roles

American Banker

First Financial Bancorp in Cincinnati has made Brad Ringwald its president of community banking; named Paul Silva the president of investment commercial real estate; tapped Rick Dennen to oversee the company's national lending businesses; and said Roddell McCullough, director of community development, will take on more responsibility helping determine the strategy for that area.

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Park National to Pay $500,000 to Settle Lingering Accounting Probe

American Banker

Park National in Newark, Ohio, has agreed to pay $500,000 to settle Securities and Exchange Commission allegations that its loan-loss accounting underplayed credit problems at a troubled acquisition. breaking_news dealmaking-strategy m-a enforcement oh fl community-banking

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The Regulatory Future Of Payday Lending

PYMNTS

Most recently, Ohio capped off a 10-year regulatory project two weeks ago, with John Kasich’s signature on a new bill that will close loopholes in 2008 legislation to legally rein in short-term lenders. And national regulations are also moving forward this week, with a win in a U.S. New Rules in Ohio. Once Rosenberger was out – and Ohio state Republicans were looking for a fast way to clear the taint of scandal before the 2018 election season – H.B.

Fifth Third Bank Strives to Make Cincinnati into the Next Fintech Hub

Bank Innovation

PREMIUM – Cincinnati, Ohio might seem like an unlikely place for fintech innovation to spur, but it has the ingredients to be just the right breeding ground. At least that's according to Fifth Third, one of the nation's 25 largest financial institutions, that is headquartered in the city of Cincinnati. Amber Steedle, senior director of agile […]. Exclusive Innovations Open Fintech Operations Premium Fifth Third Bank fintech hub innovation

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Huntington Wasting No Time Wringing Profit from FirstMerit Deal

American Banker

Huntington Bancshares in Columbus, Ohio, is wasting no time capitalizing on its purchase of FirstMerit in Akron, Ohio. dealmaking-strategy national-regional

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Senators Ask Treasury To Shield Consumers’ Stimulus Money From Debt Collectors

PYMNTS

Sherrod Brown (D-Ohio) and Sen. The National Consumer Law Center told CNBC it has lobbied the Treasury to enact new rules to protect people in debt, and is urging states to take action if the Treasury does not. Payments are coming very soon,” said Lauren Saunders, associate director of the National Consumer Law Center. “If Coronavirus CARES act Editors' Picks National Consumer Law Center News Senate stimulus What's HotTwo U.S.

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Huntington Gains Cyber Expertise by Adding Ex-NSA Agent to Its Board

American Banker

A former cybersecurity expert with the National Security Agency joined the board of directors at Huntington Bancshares in Columbus, Ohio. people oh recruitment national-regional

Huntington Beats Energy Blues, Reports Increased Profit

American Banker

Huntington Bancshares in Columbus, Ohio, withstood issues in its energy portfolio to report higher quarterly profit. breaking_news oh performance national-regional

Huntington Pours More Sweeteners into FirstMerit Deal

American Banker

Huntington Bancshares in Columbus, Ohio, is significantly raising the ante in philanthropic and community development investments connected to its planned acquisition of FirstMerit. breaking_news dealmaking-strategy m-a small-business mortgage oh national-regional

Huntington Unveils Jobs and Lending Plan for Its Hometown

American Banker

Huntington Bancshares in Columbus, Ohio, said it plans to add 1,000 jobs by 2024 at a new office complex in Columbus and lend $300 million to low- and moderate-income communities in the city over the next five years. breaking_news dealmaking-strategy marketplace-lending commercial-lending small-business oh community-banking national-regional

How Persistence (and an Extra $55M) Sealed the Year's Biggest Bank Deal

American Banker

It took a fixed cash component, several board seats and hefty commitments to FirstMerit's employees and major markets in Ohio and Michigan to seal the deal. consolidation national-regional dealmaking-strategyHuntington Bancshares made five pitches to buy FirstMerit.

Merger Costs Drag Down Huntington's Profit

American Banker

Huntington Bancshares in Columbus, Ohio, reported a second-quarter profit of $175 million, off 11% from the same period in 2015. breaking_news dealmaking-strategy earnings-national-regional-banks performance national-regionalPart of the reason for the drop was a $21 million charge related to its pending acquisition of FirstMerit in Akron.

21. Karen Glenn, First United Bank and Trust Co.

American Banker

Last year, First United Bank and Trust CEO Karen Glenn made her boldest move to date with a deal to acquire the $85 million-asset Bank of Ohio County in Beaver Dam, Ky. womenin-banking community-banking national-regionalWith that deal, the first in its 20-year history, First United boosted its assets by nearly 45%, to $275 million.

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Fed Extends Comment Period on Huntington-FirstMerit Deal

American Banker

The Federal Reserve is giving the public more time to comment on Huntington Bancshares' agreement to buy FirstMerit in Akron, Ohio. national-regional law-regulation m-a fed oh breaking_news dealmaking-strategy

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Huntington to Close More than 100 Branches After FirstMerit Deal

American Banker

Huntington Bancshares plans to close more than 100 branches in Ohio, Illinois, Michigan, Pennsylvania and Wisconsin after it completes its acquisition of FirstMerit. breaking_news consumer-finance national-regional consolidation m-a oh il mi pa dealmaking-strategy

Who's Behind the Campaign Attacking CFPB Chief Cordray?

American Banker

Richard Cordray, the director of the Consumer Financial Protection Bureau, is the target of a new TV ad campaign that alleges he is courting potential funders for a run as governor of Ohio by enacting a plan that would benefit trial lawyers. national-regional consumer-finance cfpb payday law-regulation

Three Small US Banks Collapse Over Past Month

PYMNTS

1 when City National Bank of New Jersey closed its three branches with assets of about $120.6 Resolute Bank in Maumee, Ohio closed on Oct. 25 and was assumed by Buckeye State Bank in Powell, Ohio. The U.S. recorded its fourth bank failure this year — the first collapse of financial institutions since 2017, according to data from the Federal Deposit Insurance Corp ( FDIC ). The most recent failure was on Nov.

FirstMerit Went to Great Lengths to Find a Buyer

American Banker

FirstMerit reached out to a foreign bank last fall in an effort to negotiate a sale, but the Ohio company eventually agreed to sell itself to Huntington Bancshares for $3.4 breaking_news community-banking national-regional consolidation strategic-alternatives performance m-a dealmaking-strategybillion.

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OCC fintech charter sparks opposition from Senate Dems

Payments Source

Sherrod Brown, D-Ohio, and Jeff Merkley, D-Ore., registered their strong opposition to the concept of the charter, which would allow certain types of fintech companies to avoid state licensing requirements by obtaining a limited-purpose national bank charter. In a letter Monday to Comptroller Thomas Curry, Sens.

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Morning Scan: Ending Arbitration at Wells; Property Loan Pullback

American Banker

Sherrod Brown, D-Ohio, said he plans to introduce a bill that would prevent Wells Fargo from forcing customers to use arbitration clauses if they challenge the bank for opening bank accounts without their permission, a move that would make it easier for customers to sue the bank for any damages they may have incurred as a result. Giving customers back their right to take Wells Fargo to… morning-scan national-regionalReceiving Wide Coverage. More pain for Wells: Sen.

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Chicago, SBA Lending to Factor Heavily in Huntington's Growth Story

American Banker

The Ohio company is eager to rev up SBA lending in the Windy City now that it has closed on its purchase of FirstMerit. national-regional small-business performance m-a consolidation commercial-lending il dealmaking-strategyCEO Steve Steinour also credits his company's willingness to make big upfront community commitments for a seamless approval process.

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