The central bank said it had miscalculated the loss rates for certain public welfare investments, which led to incorrect capital requirements for the two companies.
Two bills — one providing relief from a loan accounting standard and another extending forebearance measures — would collectively contain credit losses.
A plan to merge the $5.5 million-asset credit union into Cal-Com FCU will provide additional services for members while also easing the process of replacing several employees who plan to retire this year.
Investment banking and trading income hit an eight-year high, buoyed by heavy pandemic-fueled borrowing; the division’s revenue has jumped as it poaches advisors from rivals.
Texas Trust Credit Union boosted loan volumes with marketing tool inspired by “Game of Thrones,” but gamification strategies can be risky due to data privacy concerns.
Several community banks are warning Congress that their participation in the Paycheck Protection Program could cause them to cross a threshold that may lead to, among other things, supervision by the CFPB and a cap on interchange fees.
The bank is selling $355 million of Paycheck Protection Program credits to the Loan Source, a nonbank lender that is also buying PPP loans from three other banks.
