Aging tech systems have become a "pain point" in financial services, and VC firms have backed newcomers trying to push aside traditional vendors and win over banks and credit unions.
Community banks in the state have struggled to attract the funds to meet surging loan demand, but that could change now that a new law has made it easier for them to accept government deposits.
The National Credit Union Administration and the Small Business Administration have established a program to boost SBA lending by credit unions, which was very light last year. It is sure to irk bankers, who have raised competitive concerns.
The Consumer Financial Protection Bureau proposed steps to ease Home Mortgage Disclosure Act requirements, just days after announcing it was retiring a platform to let users analyze raw mortgage data.
The New Orleans company is comfortable buying with the deal despite MidSouth's lingering credit issues, given a shared history and the opportunity to add low-cost deposits.
It just got harder for banks in Georgia to enforce noncompete agreements in employee contracts. For employees of two merging banks, BB&T and SunTrust, the timing couldn’t be better.
