Howard Bancorp and Bryn Mawr Bank are trying different approaches to reach out to underserved markets they’ve entered via acquisitions. Creative in-house initiatives may take on added importance as regulators move to "dial back" Community Reinvestment Act rules.
Two civil rights groups in Texas allege that Capital One's TV ads featuring black celebrities encourage minority customers to deposit money and use debit cards, while its branch closings in their neighborhoods cut them off from loans and other services.
Comptroller of the Currency Joseph Otting said reform of Community Reinvestment Act regulations is a "key element" of how regulators aim to recalibrate rules a decade after the financial crisis.
As regulators look to update the Community Reinvestment Act, they should better integrate online and mobile banking activity as part of exam performance.
The bank says it received an “outstanding” rating on its most recent Community Reinvestment Act examination. Its previous rating, a “needs to improve,” not only was bad publicity but restricted its ability to buy banks.
State and federal regulators finally approved the Mississippi bank’s acquisitions of Ouachita Bancshares and Central Community after anti-laundering and CRA matters were resolved. BancorpSouth’s CEO says he may pursue more deals.
Comptroller of the Currency Joseph Otting said in a press conference Wednesday morning that there is a place in the banking world for some kind of fintech charter, though the exact parameters of such a charter are still unclear and have to be worked out.
