Deposits

Brokered deposits help banks help their communities

07/22/20

Peoples Bank in Arkansas once used brokered deposits to fund more loans to underserved borrowers. It could do so again if Congress loosens restrictions, says CEO Mary Fowler.

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Patriot in Connecticut buys portfolio of prepaid debit card deposits

07/21/20

The company said the acquisition should lower its funding costs and shore up its net interest margin.

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Bank of the West launches eco-friendly checking account

07/20/20

The new consumer deposit product will provide customers a snapshot of the carbon impact of their purchases and offer other incentives to entice the environmentally conscious.

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Custody banks hurt by absence of commercial lending

07/17/20

While rival banks reported increases in loans and deposits, thanks largely to their participation in the Paycheck Protection Program, State Street and Bank of New York Mellon saw their balance sheets shrink in the second quarter.

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Abundance of deposits tests bankers

07/17/20

Government stimulus efforts, including the Paycheck Protection Program, have fueled a deposit surge. The challenge for banks is figuring out how to put that new money to use.

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Rebound in used-car purchases helps Ally post modest 2Q profit

07/17/20

Some 60% of Ally’s auto originations in the second quarter were used-vehicle loans, the highest percentage in the company's history.

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Are lawmakers inviting ‘hot money’ boom with brokered deposit bill?

07/08/20

Backers say a bill to limit asset growth instead of restricting brokered funds addresses concerns about expanding balance sheets at troubled banks. But skeptics worry it would open the door to greater risk.

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Repealing brokered deposit law would be a costly mistake

07/06/20

Congress and the FDIC are considering easing limits on banks' holdings of such deposits, a move that could inadvertently lead to more expensive failures.

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OCC to lower assessment fees despite surge in bank assets

06/22/20

The Office of the Comptroller of the Currency will use year-end 2019 asset totals in its calculating its next assessment, saying national banks "should not be penalized" for adding emergency loans to their books during the pandemic.

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Juneteenth, OCC targeting ex-Wells execs, deposit glut: Top stories of the week

06/19/20

JPMorgan Chase, Fifth Third, Truist among banks closing early to observe Juneteenth; inside the OCC's effort to extract $37.5M from former Wells Fargo execs; banks are at a loss what to do with record amount of funds; and more from this week's most-read stories.

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