BankThink

No holiday off as banks, payment networks clean up after SolarWinds hack

12/28/20

With Microsoft, Equifax and others acknowledging that the SolarWinds hack of U.S. government entities had affected their holdings, security teams and vendors have put the holiday aside while continuing around-the-clock surveillance to ensure no financial services or payments networks have been hacked.

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2020 in review, from COVID upheaval to the taxi medallion mess

12/28/20

A look back at a year in which little went according to plan for credit unions.

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Pandemic response, CRA overhaul, election: The year in banking policy

12/27/20

In 2020, the news in Washington was dominated by the regulatory impact of COVID-19 and presidential politics. There was also a new rule changing how national banks will be examined under the Community Reinvestment Act, and the 10th anniversary of Dodd-Frank. Here is a look back at stories from the past year.

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Southern California Bancorp adding branches after raising $42 million

12/24/20

The company is also looking to hire more senior lenders as it expands in markets around Los Angeles and San Diego.

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FDIC signs off on Southern California de novo

12/24/20

Organizers of the proposed Legacy Bank must raise $25 million before opening.

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N.Y. law requires nonbanks to disclose loan terms to small businesses

12/24/20

The measure, just the second of its kind the nation, mandates that fintechs, factoring firms and other nonbank small-business lenders clearly explain the terms and conditions to borrowers.

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Small Baltimore credit unions to join forces

12/24/20

Members of $6.3 million-asset FIAFE Federal Credit Union will vote early next year on whether to merge into $43 million-asset Central Credit Union of Maryland.

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Credit unions’ COVID triage: ‘Who needs what from us right now?’

12/24/20

Amy Nigrelli, who recently joined Nusenda Credit Union after nearly a decade at CUNA, offers insights on how the pandemic has changed marketing for the industry and what institutions can learn from the trade group.

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OCC’s preemption letter opens new front in battle with states

12/23/20

In the waning days of the Trump administration, the agency issued a new legal theory of its power to let national banks evade state consumer protection laws. But some state attorneys general and consumer groups charge the federal regulator is attempting to sidestep restrictions imposed by Dodd-Frank.

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New lawsuit from states over OCC power targets Figure application

12/23/20

The Conference of State Bank Supervisors filed a complaint arguing that the unique bid by the San Francisco fintech is "merely a thinly veiled effort" to evade legal challenges to the federal regulator's chartering of nonbanks.

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