Organizers of Piermont Bank said in their application with the FDIC that they want to raise $100 million and eventually operate in several urban coastal communities.
Tekalign Gedamu, who would chair Marathon International Bank, says that Zekarias Tamrat is bad-mouthing the de novo effort following his dismissal and a subsequent payment disagreement. Tamrat was slated to be the bank's president.
Readers react to Wells Fargo's latest penalty, weigh in on the Vatican's criticism of credit default swaps and opine on the long tail of the financial crisis.
The proposal released in May to clarify how banks comply with the proprietary trading ban would “undermine a fundamental provision" of Dodd-Frank, lawmakers said.
A new law exempts small lenders from expanded mortgage data reporting, but regulators are signaling that banks no longer have to collect the data either.
At least six groups are exploring opening new banks in the state, which is enjoying an economic recovery and has a dearth of local financial institutions.
