Club owners used to be able to get bank loans, but that changed as the de-risking wave reshaped banks' relationships with pot firms, exotic dancers and many others. Whether the taboo can or should last becomes a big question as adult entertainment keeps growing.
Finance students at Marquette University will make loans to small businesses in Milwaukee from a revolving fund seeded by Town Bank and held on the books of a local CDFI.
The Detroit bank wants to focus on its core business instead, but other institutions have seen rapid growth in loans for recreational vehicles and other large pieces of transportation equipment.
A huge chunk of the profit increase in the second quarter was due to a lower tax rate, but rising net interest margins and loan growth signal that institutions continue to derive revenue from their loan book.
The Troy, Mich., company is operating unfettered by regulatory orders for the first time in a decade, and its CEO says Flagstar now has the flexibility to pull the trigger faster on deals and accelerate its diversification beyond mortgages.
