News Topic: Community banking

Driver Management, a bank investor, alleges that First United in Maryland made false claims and improperly lobbied lawmakers to keep its nominees off the board. The bank asserts that it acted properly in response to an attempted hostile takeover. ... Read full article

Only one of the 118 loans bought by the Federal Reserve through Aug. 31 was close to the $250,000 minimum in the rescue program, aimed small to midsize businesses hurt by the pandemic. ... Read full article

A New York CDFI is halfway to its $100 million fundraising goal for a fund that would put deposits in Black-owned banks and make loans to key businesses or projects. It hopes the moves will improve availability of capital and access to mainstream financial ... Read full article

The company also plans to shed some corporate office space by the end of this year. ... Read full article

The New Jersey company will add three branches in the northern part of the state as part of the transaction. ... Read full article

Many community banks, like Peoples Community in Wisconsin, say they proceeded despite the technological challenges presented by social distancing because the crisis has exposed the shortcomings of their digital systems. ... Read full article

The state's financial regulator sent a subpoena to an auto-title lender seeking information about its partnership with a Utah bank, marking the first public disclosure of an investigation into efforts to evade a 2019 law capping interest rates on many ... Read full article

The company has acquired a federal savings association, Mid-Central Federal Savings Bank in Wadena, Minn., which is converting to a national bank. ... Read full article

Piedmont Federal Savings is working with historically Black colleges and universities to hire and train prospective commercial lenders and managers who better reflect the community it serves. ... Read full article

The move is part of the effort by lenders and other companies to promote racial equity and be more sensitive to the stresses on front-line employees. It also coincides with rising concerns about the postal system’s ability to handle the rush of absentee ... Read full article

The move is part of the effort by banks and other companies to promote racial equity and be more sensitive to the stresses on front-line employees. It also coincides with rising concerns about the postal system’s ability to handle the rush of absentee ... Read full article

CIT inherited the business with its purchase earlier this year of Mutual of Omaha Bank. ... Read full article

The Justice Department alleges that the bankers worked with “higher-ranking bank officials” at Washington Federal Bank for Savings in Chicago to falsify records and hide funds prior to the bank's December 2017 collapse. ... Read full article

Mike Duncan had kept a low profile as chairman of the U.S. Postal Service’s board of governors until it hired Louis DeJoy as postmaster general. Now he is sharing an unwanted spotlight with the embattled DeJoy. ... Read full article

The company will use Savoy's midtown Manhattan office to coordinate business development efforts around the city. ... Read full article

The Los Angeles company will remain a community development financial institution when it acquires the parent of City First Bank in Washington. ... Read full article

"It's on-demand capital for us," Optus Bank's CEO says of the payment company's deposit. The funds are part of PayPal's broader effort to confront race and income inequality. ... Read full article

Social distancing and other pandemic-related measures are making it harder for banks in the Gulf region to rely on tried-and-true contingencies. ... Read full article