The prospect of a lower corporate rate resulting from looming tax reform discussions may be a blessing for the industry, but it could be bittersweet for one particular group of bankers.
Social Finance’s application for an industrial loan charter has not only drawn opposition from a coalition of incumbent banks and community activists, it also serves as a microcosm of several perennial debates in financial services policy.
The marketplace lender's application for an industrial bank charter is under fire from small banks and progressives, who say it could violate the barrier between banking and commerce and shut out middle-class and lower-income consumers.
Readers slam credit unions’ ever-inclusive membership criteria, weigh in on the OCC’s proposed fintech charter, encourage a rewrite of the CRA, and more.
Tucked away in the Treasury Department’s regulatory reform report released last month was a nascent effort to reform the way regulators implement the Community Reinvestment Act.
ESSA Bank & Trust has successfully worked with a federal program that helps former prisoners in some eastern Pennsylvania towns get back into society, and it plans to expand the program to the Philadelphia market.
In 1981, a Louisiana banker sarcastically offered advice to a money market fund chasing deposits in his market, presaging today’s battles over nonbanks encroaching on banks' turf.
The online lender, which focuses on high-earning millennials, is offering assurances that it will also serve Americans who make less money. But the company has not convinced critics, who say the plans are inadequate.
The California Reinvestment Coalition is pressing regulators to reject the $700 million bank merger unless PacWest commits more resources to underserved groups in Southern California.
The OCC recently gave Sterling a 'satisfactory' rating and said the New York bank had addressed some concerns by the Fed that had leaked to the public and raised questions about its pending M&A deal.
