Nexos National Bank would be led by Gordon Baird, a former Citi executive. A former New York banking commissioner is set to join the proposed bank's board.
Bank groups are pushing a variety of proposals to delay the loan-loss rule or soften its impact. The accounting standards board has agreed to review at least one of them — but at a pace that might not be fast enough for lenders.
It started with financial literacy classes, but now Chelsea Groton Bank in Connecticut is offering crafts and other so-called lifestyle courses, all in an effort to connect with the public and drive traffic to its branches.
The effort to raise the threshold for transactions excused from appraisal requirements responds to concerns that the current threshold is outpaced by real estate prices.
Efforts to create city- or state-owned banks in Los Angeles, Seattle and New Jersey have suffered setbacks of late, but public banking advocates are taking the long view.
