Several community banks that put buybacks on hold during the pandemic’s earliest days have recently authorized new plans, signaling an easing in regulatory pressure and greater comfort with capital levels.
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.
A state judge deciding a dispute between Spencer Savings and an investor said the mutual must get an independent review before switching from a savings association to a savings bank. The ruling may complicate mutuals' efforts to make more business loans.
